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Book Top 10 Facts Every Consumer Needs to Know about the National Flood Insurance Program

Download or read book Top 10 Facts Every Consumer Needs to Know about the National Flood Insurance Program written by National Flood Insurance Program (U.S.) and published by . This book was released on 2000 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book National Flood Insurance Program

Download or read book National Flood Insurance Program written by United States. Federal Emergency Management Agency and published by . This book was released on 2005 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book National Flood Insurance Program

Download or read book National Flood Insurance Program written by and published by . This book was released on 2005 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Flood Insurance Facts

Download or read book Flood Insurance Facts written by Missouri. Department of Consumer Affairs, Regulation and Licensing and published by . This book was released on 1977 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Floodplain Management Handbook

Download or read book Floodplain Management Handbook written by H. James Owen and published by . This book was released on 1981 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Flood Insurance Facts

Download or read book Flood Insurance Facts written by Missouri. Department of Natural Resources and published by . This book was released on 1987 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Affordability of National Flood Insurance Program Premiums

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.

Book Affordability of National Flood Insurance Program Premiums

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.

Book National Flood Insurance Program Top Ten Facts for Lenders F 215 July 2004

Download or read book National Flood Insurance Program Top Ten Facts for Lenders F 215 July 2004 written by and published by . This book was released on 2005* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Myths and Facts about the National Flood Insurance Program

Download or read book Myths and Facts about the National Flood Insurance Program written by National Flood Insurance Program (U.S.) and published by . This book was released on 2005 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: