The national flood insurance program is set to expire at the end of this month (which featured heavy flooding in my neck of the woods -- how about yours?). Despite the obvious relevance, there's been little coverage of what will be some significant changes to the current program.
So far, the bill has passed the House and the relevant Senate committee. After debate and (hopefully) passage in the Senate, and discrepancies between the House and Senate versions of the bill will be reconciled and it should move to the President's desk for signing. Whether this will happen in the next two weeks is more difficult to tell.
More details on the bill and what exactly the NFIP will look like once it's passed are available here.
As for the importance of flood insurance -- check out the NFIP website.