The Risk and Insurance Management Society (RIMS) plans a fundraising drive to support renewal of the US National Flood Insurance Program, which expires on September 30.

Its RISK Political Action Committee will this week begin soliciting member donations so RIMS can engage members of congress about the program’s reauthorisation.

“For thousands of organisations, the reality that access to affordable flood insurance might disappear and that their businesses would instantly become susceptible to destruction caused by flooding is unacceptable,” RIMS VP Robert Cartwright Jr said.

“RIMS has launched a grassroots effort to ensure the commercial insurance buyer’s voice is heard and legislators are reminded of the consequences of the [program’s] expiration, and the need for expedient action.”

The flood program has about $US25 billion ($31.5 billion) of debt, due mainly to Hurricane Katrina in 2005 and Superstorm Sandy in 2012.