Obama signed expansion into law over the weekend; Sandy claims cited as cause for concern.
Legislation increases borrowing authority by one third, draws Republican ire and promises to take NFIP private.
Claims from superstorm to outstrip NFIP's borrowing authority.
NFIP will likely need to go to Congress for additional borrowing authority to pay claims, insurance industry officials say.
President Obama has signed legislation that reauthorizes the National Flood Insurance Program until Sept. 30, 2017.
Insurance industry officials believe the House will accept the 60-day National Flood Insurance Program extension the Senate passed last week.
Regulatory burden, National Flood insurance Program on the agenda.
At press time, the House Financial Services Committee was close to passing a bill extending the National Flood Insurance Program for five years and three bills to make changes to the structure of the Bureau of Consumer Financial Protection.