Commending the U.S. Senate and President Barack Obama on a short-term extension of the National Flood Insurance Program, a pair of industry groups now want to focus on a longer commitment to the initiative.

Hours before it was set to expire, the Senate passed a continuing resolution, extending the NFIP until Oct. 31. Obama then signed the resolution, making it law.

Robert Rusbuldt, president and CEO of the Independent Insurance Agents & Brokers of America, said the fact that the program came within hours of expiring is “alarming.”

“Had the program been allowed to expire, it would have resulted in no more new or renewed flood insurance policies and millions of consumers would have been left without flood insurance coverage,” Rusbuldt said in a statement.

Big I senior vice president for government affairs Charles E. Symington Jr. added that the group, representing agents nationwide, feels a long-term extension including reform of the program is “necessary.”

David Sampson

“In particular, we strongly support an increase in maximum coverage limits and the addition of optional business interruption insurance,” Symington said. “Homeowners and businesses need both higher coverage limits and business interruption insurance in order to properly insure their homes and businesses. We hope that as Congress considers a long term reauthorization soon, they will include these reforms.”

Also calling for a long-term solution is the Property Casualty Insurers Association of America, which represents more than 1,000 member companies in the marketplace.

“We will work closely with the House and Senate to advocate a long-term extension that ensures the program’s fiscal soundness and does not needlessly expand its scope into other areas, such as windstorm insurance, where coverage is already available through private industry or state programs,” said David A. Sampson, president and CEO of the PCI.