the national flood insurance program
DESCRIPTION
The National Flood Insurance Program. Edie Lohmann, FEMA Region IX NFIP Insurance Specialist. How the NFIP Works. FEMA agrees to make flood insurance available within a community when that community agrees to adopt and enforce floodplain management regulations. How the NFIP Works. - PowerPoint PPT PresentationTRANSCRIPT
The National Flood Insurance Program
Edie Lohmann, FEMA Region IX NFIP Insurance Specialist
2
How the NFIP Works
FEMA agrees to make flood insurance available within a community when that community agrees to adopt and enforce floodplain management regulations.
3
How the NFIP Works
4
National Flood Insurance Act of 1968
Flood Disaster Protection Act of 1973
National Flood Insurance Reform Act of 1994
Flood Insurance Reform Act of 2004
NFIP Background
5
NFIP Background
1. Ensure long term sustainability and financial soundness
2. Respond to the rising costs and consequences of flooding
6
Biggert-Waters 2012 (BW-12)
What Does it Do?Reauthorizes the
National Flood Insurance Program (NFIP) for 5 years through September 30, 2017
Signed July 6, 2012
Government Building
7
BW 2012: Section by Section
18
13
16
2
Biggert-Waters 2012 Section Break Down
Other Risk Reduction and Stud-ies
Mapping
Insurance
205 and 207
Section 205 & 207
8
Build Safer and Stronger
Changing the Message About Flood Insurance
9
Flood Insurance Provisions:Sections 205 and 207
Section 205• Targets:
1. Non-Primary Residences
2. Businesses
3. Severe Repetitive Losses
4. Full Risk Rate Category• Implementation began
January 1, 2013
Section 207• Impacts map changes
• Grandfathering• Preferred Risk Policy
Eligibility Extension• Not currently being
implemented – still under evaluation
10
Section 205 – Biggert-Waters 2012 (BW 12)
Effective Jan. 1, 2013 Effective Oct. 1, 2013
25% Rate Increase:
Non-Primary Residences (vacation & second homes)
25% Rate Increase:1. Non-Residential Structures (businesses) 2. 1-4 Family Severe Repetitive Loss Buildings
Full Risk Rates:1. New policies applied for on or after July 6,
20122. Lapsed policies on or after October 4, 2012
Rate Increases Apply To:Pre-firm Buildings In A, V, or D Flood Zones(except AR/A99)
11
Full Risk Rates
Reduce the Risk, Reduce the Rate
Zone AE Rates Effective October 1, 2012
12
BW 12 Section 205 - CaliforniaTotal California NFIP Policies: 256,836
81%
14%
3%
2%
3%2%
95%
Data as of 12/31/12
13
Key Takeaways - Mitigation
Understand the Risk
Buy Down the Risk
Build Safer, Stronger &
Smarter
Collaborate & Communicate
14
FloodSmart
www.FloodSmart.gov