Download or read book The National Flood Insurance Program Background Issues and Reauthorization written by Scott I. Newman and published by Nova Snova. This book was released on 2021-03-25 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) was established by the National Flood Insurance Act of 1968 and was most recently reauthorized to September 30, 2020, through a series of short-term reauthorizations. The general purpose of the NFIP is both to offer primary flood insurance to properties with significant flood risk, and to reduce flood risk through the adoption of floodplain management standards. This book provides information on key components of the NFIP.
Download or read book The National Flood Insurance Program written by Zachary O'loghlen and published by . This book was released on 2020-04-14 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) was established by the National Flood Insurance Act of 1968 and was most recently reauthorized to May 31, 2019, through a series of short-term reauthorizations. The general purpose of the NFIP is both to offer primary flood insurance to properties with significant flood risk, and to reduce flood risk through the adoption of floodplain management standards. Communities volunteer to participate in the NFIP in order to have access to federal flood insurance, and in return are required to adopt minimum standards. This book discusses important issues relating to the National Flood Insurance Program.
Download or read book National Flood Insurance Program written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Governmental Efficiency and the District of Columbia and published by . This book was released on 1978 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Flood Insurance Program Background Challenges and Financial Status written by and published by DIANE Publishing. This book was released on with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Flood Insurance Program written by Rawle O. King and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1968, Congress created the National Flood Insurance Program (NFIP) to address the increasing costs of taxpayer-funded disaster relif for flood victims and the increasing amount of damage caused by floods. This report provides an analysis of the NFIP and its financial status; summarizes the major challenges facing the program, including issues affecting its long-term financial solvency; presents some alternative approaches for managing and financing the flood losses; and describes pending legislation on this issue.
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 Reauthorization of the National Flood Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2012 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reauthorization of the National Flood Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2011 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reauthorization of the National Flood Insurance Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-10-10 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reauthorization of the National Flood Insurance Program : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... June 9 and June 23, 2011.
Download or read book S Hrg 112 698 written by U. S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-08 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Download or read book Reauthorization of the National Flood Insurance Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-09 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reauthorization of the National Flood Insurance Program : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... June 9 and June 23, 2011.
Download or read book The National Flood Insurance Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-15 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program : the need for long-term reauthorization and reform : hearing before the Subcommittee on Economic Policy of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, second session ... May 9, 2012.
Download or read book S Hrg 112 229 written by U.S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-08 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Download or read book The National Flood Insurance Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program : the need for long-term reauthorization and reform : hearing before the Subcommittee on Economic Policy of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, second session ... May 9, 2012.
Download or read book Reauthorization of the National Flood Insurance Program written by United States Senate and published by . This book was released on 2019-10-15 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reauthorization of the National Flood Insurance Program: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eleventh Congress, second session, on examining comprehensive flood insurance reforms and the reauthorization of the National Flood Insurance Program, September 22, 2010.
Download or read book National Flood Insurance Program Continued Actions Needed to Address Financial and Operational Issues written by Orice Williams Brown and published by DIANE Publishing. This book was released on 2010-08 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nat. Flood Insurance Program (NFIP), established in 1968, provides policyholders with insurance coverage for flood damage. FEMA is responsible for managing NFIP. Unprecedented losses from the 2005 hurricane season and NFIP¿s periodic need to borrow from the U.S. Treasury to pay flood insurance claims have raised concerns about the program¿s long-term financial solvency. Because of these concerns and NFIP¿s operational issues, NFIP has been on a high-risk list since March 2006. As of April 2010, NFIP¿s debt to Treasury stood at $18.8 billion. This testimony discusses: (1) NFIP¿s financial challenges; (2) FEMA¿s operational and management challenges; and (3) actions needed to address these challenges. Includes recommendations.
Download or read book The National Flood Insurance Program written by Rawle O. King and published by Createspace Independent Pub. This book was released on 2013-01-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 29, 2012, Hurricane Sandy struck the East Coast region, causing intense winds, high rainfall, waves, and storm surge, as well as economic disruptions in states throughout the Northeast and the mid-Atlantic region. Communities in New York, New Jersey, and Connecticut were particularly hard hit. The devastating floods exposed vulnerabilities in the region's public transportation and infrastructure and underscores the nation's growing exposure to coastal hazards. The full economic cost of Sandy will not be known for years, but current preliminary estimates of physical property damage, not including flood losses likely to be paid under the government's National Flood Insurance Program (NFIP), range from $30 billion to $55 billion, of which about $16 billion to $22 billion will be privately insured losses. Sandy is expected to require substantial federal disaster recovery assistance, including tens of billions for flood and hurricane protection and coastal restoration. Given the geographic scope of heavily flooded areas and residential take-up rates (number of flood policies divided by total number of households) in affected coastal communities that participate in the NFIP, government payouts under the NFIP are estimated to be from $12 billion to $15 billion in flood claims. This amount exceeds the $4 billion in cash and remaining borrowing authority from the Treasury Department. The Obama Administration has announced it will ask Congress to raise the NFIP borrowing authority to $25 billion, or $4.025 billion over its current borrowing authority. But some experts have suggested a $30 billion borrowing cap would be needed to cover even higher projected losses. Emergency supplemental spending on disaster assistance comes at a time when Congress is considering spending cuts and tax increases to address the nation's fiscal debt. In the wake of disaster clean-up and recovery along much of the East Coast region, policymakers, local officials, and other stakeholder groups have expressed a range of flood management concerns facing the NFIP. These include (1) escalating spending on federal emergency supplemental appropriations for disaster relief assistance; (2) uncertainty surrounding the NFIP's ability to reduce the nation's growing exposure to flood losses; (3) rising population growth and economic development in coastal watershed counties or floodplains areas exposed to hurricane induced coastal floods; (4) persistently low insurance participation (take-up rates) in the NFIP; and (5) financing the cost of rebuilding communities stronger, more resilient. On July 6, 2012, President Obama signed into law the Biggert-Waters Flood Insurance Reform Act of 2012, P.L. 112-141, that reauthorized the NFIP through September 30, 2017, and made a number of reforms to strengthen the future financial solvency and administrative efficiency of the program by raising historically low premiums and reducing homeowners' incentives for rebuilding in flood risk zones. However, several post-reform issues of contention remain for congressional consideration: revisions in the analysis and mapping of non-accredited levees; actuarial soundness, program solvency, and affordability; debt forgiveness; an integrated watershed flood risk assessment framework; and expansion of the private-sector role in flood risk. This publication provides an analysis of flood risk management, summarizes major challenges facing the NFIP, and outlines key reforms in the recently enacted Biggert-Waters Flood Insurance Reform Act of 2012. The publication also identifies and presents some key remaining flood management issues for congressional considerations, and it concludes with a discussion of relevant policy options for the future financial management of flood hazards in the United States.
