Please see the following recent release from the Department of Veterans Affairs (VA).

FLOOD INSURANCE REQUIREMENTS:
The authority of the National Flood Insurance Program (NFIP) to issue new policies is set to expire December 31, 2002. When Congress reconvenes in January, it is expected that they will reauthorize the NFIP retroactive to January 1, 2003. However, in the interim, there will be some period during which only privately issued flood insurance policies will be available. See attached document for instructions for flood insurance prior to the reauthorization.

To view the entire release, please click on the following:
http://www.homeloans.va.gov/new.htm