Realtors join FEMA in calling for flood insurance overhaul

By Thomas Frank | 03/06/2024 06:23 AM EST

The allies are pushing Congress to extend the program before it expires later this month.

David Maurstad, FEMA senior executive for flood insurance, testifies before a Senate panel.

David Maurstad, the Federal Emergency Management Agency senior executive for flood insurance, urged lawmakers to pass a long-term extension of the program. Francis Chung/POLITICO

One of the nation’s largest real estate groups is joining the federal government’s disaster agency in urging Congress to address climate change by helping people buy flood insurance.

The National Association of Realtors and the Federal Emergency Management Agency on Tuesday publicly called on Congress to approve a long-sought overhaul to FEMA’s ailing flood insurance program.

The National Flood Insurance Program, or NFIP, sells most of the nation’s flood policies, yet only about 4 percent of U.S. properties have coverage.


“NFIP is critical to the U.S. real estate market,” said Nate Johnson, the Realtors association’s vice president of advocacy, at a news briefing. “More than 15 million properties have a high risk of flooding.”