Download or read book Evaluating National Flood Insurance written by Lloyd S. Dixon and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research brief assesses the nationwide market penetration rate of the Federal Emergency Management Agency6administered National Flood Insurance Program, identifies the contributing factors, and summarizes the benefits of increasing this rate.
Download or read book A Manual for Evaluating the National Flood Insurance Program written by Jennifer Zoe Barnard Miller and published by . This book was released on 2001 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Affordability of National Flood Insurance Program Premiums written by National Research Council and published by National Academies Press. This book was released on 2015-08-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) is housed within the Federal Emergency Management Agency (FEMA) and offers insurance policies that are marketed and sold through private insurers, but with the risks borne by the U.S. federal government. NFIP's primary goals are to ensure affordable insurance premiums, secure widespread community participation in the program, and earn premium and fee income that covers claims paid and program expenses over time. In July 2012, the U.S. Congress passed the Biggert-Waters Flood Insurance Reform and Modernization Act (Biggert-Waters 2012), designed to move toward an insurance program with NFIP risk-based premiums that better reflected expected losses from floods at insured properties. This eliminated policies priced at what the NFIP called "pre-FIRM subsidized" and "grandfathered." As Biggert-Waters 2012 went into effect, constituents from multiple communities expressed concerns about the elimination of lower rate classes, arguing that it created a financial burden on policy holders. In response to these concerns Congress passed The Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 2014). The 2014 legislation changed the process by which pre-FIRM subsidized premiums for primary residences would be removed and reinstated grandfathering. As part of that legislation, FEMA must report back to Congress with a draft affordability framework. Affordability of National Flood Insurance Program Premiums: Report 1 is the first part of a two-part study to provide input as FEMA prepares their draft affordability framework. This report discusses the underlying definitions and methods for an affordability framework and the affordability concept and applications. Affordability of National Flood Insurance Program Premiums gives an overview of the demand for insurance and the history of the NFIP premium setting. The report then describes alternatives for determining when the premium increases resulting from Biggert-Waters 2012 would make flood insurance unaffordable.
Download or read book Building on Success written by and published by . This book was released on 1993 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Socioeconomic Effects of the National Flood Insurance Program written by James P. Howard, II and published by Springer. This book was released on 2016-04-20 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Brief presents a benefit-cost analysis of the National Flood Insurance Program (NFIP) as well as an evaluation of its cumulative socioeconomic effects. Created by Congress in 1968, the NFIP provides flood insurance protection to property owners, in return for local government commitment to sound floodplain management. Since 1994, the NFIP has included a Flood Mitigation Assistance (FMA) program to provide local communities with support for flood mitigation. This book offers quantitative evidence of the net social benefit of the NFIP for the years 1996-2010, including an independent assessment of the consumer benefit. Second, it provides distributionally weighted analysis to show the socioeconomic effects of payments and claims. Finally, this Brief includes an analysis of the change in government revenue attributable to the NFIP and FMA programs. The models used in each component of the analysis are usable by others for extending and revising the analysis. Providing a comprehensive analysis of this increasingly important federal policy, this Brief will be of use to students of environmental economics and public policy as well as those interested in risk management in the era of climate change.
Download or read book Affordability of National Flood Insurance Program Premiums written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-02-21 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Congress authorized the National Flood Insurance Program (NFIP) in 1968, it intended for the program to encourage community initiatives in flood risk management, charge insurance premiums consistent with actuarial pricing principles, and encourage the purchase of flood insurance by owners of flood prone properties, in part, by offering affordable premiums. The NFIP has been reauthorized many times since 1968, most recently with the Biggert-Waters Flood Insurance Reform Act of 2012 (BW 2012). In this most recent reauthorization, Congress placed a particular emphasis on setting flood insurance premiums following actuarial pricing principles, which was motivated by a desire to ensure future revenues were adequate to pay claims and administrative expenses. BW 2012 was designed to move the NFIP towards risk-based premiums for all flood insurance policies. The result was to be increased premiums for some policyholders that had been paying less than NFIP risk-based premiums and to possibly increase premiums for all policyholders. Recognition of this possibility and concern for the affordability of flood insurance is reflected in sections of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 2014). These sections called on FEMA to propose a draft affordability framework for the NFIP after completing an analysis of the efforts of possible programs for offering "means-tested assistance" to policyholders for whom higher rates may not be affordable. BW 2012 and HFIAA 2014 mandated that FEMA conduct a study, in cooperation with the National Academies of Sciences, Engineering, and Medicine, which would compare the costs of a program of risk-based rates and means-tested assistance to the current system of subsidized flood insurance rates and federally funded disaster relief for people without coverage. Production of two reports was agreed upon to fulfill this mandate. This second report proposes alternative approaches for a national evaluation of affordability program policy options and includes lessons for the design of a national study from a proof-of-concept pilot study.
Download or read book Answers to Questions About the National Flood Insurance Program written by Charles D. Fletcher and published by DIANE Publishing. This book was released on 1999-03 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intended to acquaint the public with the National Flood Insurance Program (NFIP). It is designed for readers who do not need a detailed history or refined technical or legal explanations, but do need a basic understanding of the program & the answers to some frequently asked questions. Includes: introduction to the NFIP; flood insurance information for prospective buyers; coverage; filing a flood insurance claim; floodplain management requirements; flood hazard assessments & mapping requirements; NFIP address & phone directory; list of available publications; & address for obtaining CRS coordinator's manual.
Download or read book National Flood Insurance Program Answers to Questions About the NFIP written by and published by FEMA. This book was released on 1980 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Flood Insurance written by JayEtta Z. Hecker and published by . This book was released on 2001 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What You Need to Know about Federal Disaster Assistance and National Flood Insurance written by and published by . This book was released on 2002 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Answers to Questions about the National Flood Insurance Program written by and published by . This book was released on 1997 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The National Flood Insurance Program written by and published by . This book was released on 1982 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The National Flood Insurance Program s Market Penetration Rate written by Lloyd S. Dixon and published by Rand Infrastructure Safety and Environment and Institute for Civil Justice. This book was released on 2006-01-01 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Flooding is a major source of loss to individuals and businesses in the United States. Private insurers have historically been unable to provide flood insurance at affordable rates, and until the establishment of the National Flood Insurance Program in 1968, the primary recourse for flood victims was government disaster assistance. Congress adopted this program in response to the ongoing unavailability of private insurance and continued increases in federal disaster assistance. The Federal Emergency Management Agency is currently conducting a major evaluation of the program's goals and performance. This report contributes to that evaluation by developing more reliable estimates of the proportion of single-family homes (excluding condominiums) that have flood insurance (the market penetration rate); by identifying factors that determine the market penetration rate; and by examining some of the opportunities for, and the potential benefits of, increasing the market penetration rate.
Download or read book Flood Insurance written by United States. General Accounting Office and published by . This book was released on 1988 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Answers to Questions about the National Flood Insurance Program written by FEMA. and published by DIANE Publishing. This book was released on 2011 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The National Flood Insurance Program and Repetitive Loss Properties written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2001 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Look at the National Flood Insurance Program written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2006 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
