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The National Flood Insurance Program

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.

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The National Flood Insurance Program

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  1. 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. NFIP Background • 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

  5. NFIP Background • Ensure long term sustainability and financial soundness • 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 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: • Non-Primary Residences • Businesses • Severe Repetitive Losses • 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-Residential Structures (businesses) • 1-4 Family Severe Repetitive Loss Buildings 25% Rate Increase: Non-Primary Residences (vacation & second homes) • Full Risk Rates: • New policies applied for on or after July 6, 2012 • 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 - California Total California NFIP Policies: 256,836 3% 3% 2% 2% 14% 81% 95% Data as of 12/31/12

  13. Key Takeaways - Mitigation

  14. FloodSmart www.FloodSmart.gov

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