The US Congress has given itself two more months to come up with a long-term solution for the debt-burdened federal programme that provides insurance for homes and businesses in areas subject to flooding.A voice vote in the House on Wednesday extended the life of the National Flood Insurance Programme for 60 days, assuring that people in flood-risk areas will continue to have access to the flood insurance they need to close on mortgages or obtain refinancing.President Obama signed the legislation into law yesterday — just hours before the current authorisation for the National Flood Insurance Program (NFIP) expired and just in time for today’s official start of hurricane season.“We’re pleased the House acted to avoid a lapse while also passing these meaningful reforms,” said Matt Gannon, assistant vice-president for federal affairs for the National Association of Mutual Insurance Companies.The last full-scale reauthorisation of the NFIP, a wing of the Federal Emergency Management Agency, occurred in 2004. Since 2008, the insurance provider has stayed alive through a series of 16 short-term extensions while lawmakers debate how to restore its fiscal soundness. The latest short-term deal was struck after Senate leaders agreed they would take up longer-term authorisation and reforms of the NFIP later this month.The NFIP was largely self-financing until it was overwhelmed by claims from hurricanes Katrina and Rita in 2005. It now owes nearly $18 billion to the Treasury.The Senate last week passed the 60-day extension after adding a provision by Sen. Tom Coburn, (Republican, Oklahoma), that would gradually eliminate premium rate subsidies for people buying second homes and vacation homes in flood-prone areas. Coburn said that could save the programme $2.7 billion over 10 years.The NFIP was created in 1969, partly to fill the gap left by the unwillingness of private insurers to provide flood insurance. It now covers some 5.6 million policyholders in 21,000 flood-prone communities.