National Flood Insurance Program

is the National Flood Insurance Program and What is it Doing for Me The National Flood Insurance Program (NFIP) was create by Congress through the National Flood Insurance Act of 1968, and now resides underneath the cognizance of the Federal Emergency Management Agency (FEMA). I would analyze, that a majority of the homeowners insurance policies do not cover flood, thus, the need for the NFIP, supplemental insurance. The need of flood insurance, the reasons for having supplemental flood insurance

The National Flood Insurance Program (NFIP) was established to provide government subsidized flood insurance and is administered by the Federal Emergency Management Agency (FEMA). Since Hurricane Katrina in 2005, the United States has experienced a series of major flood events that has required the NFIP to borrow from the U.S. Department of Treasury. The program is currently $24 billion in debt (Landers, 2014, p. 16). There are a number of areas where the NFIP has been reviewed and already reformed

In order for a beneficial reform of the National Flood Insurance Program to occur, serious examination of the program’s key features must occur and any flaws that are found must be accounted for. These major features include: the role that FEMA and private insurance companies play, the enforcement of the mandate that requires at risk homeowners to purchase flood insurance, the accuracy of flood maps, and actions taken by FEMA in order to prevent flood damage in the first place. Beginning with the

the publication of the National Flood Insurance Act, the Congress of the United States created a program which is called The National Flood Insurance Program (NFIP). The purpose of the program is to protect property owners against losses from flood by purchasing insurance from the government. This insurance is designed to provide an insurance alternative to disaster assistance to meet the escalating costs of repairing damage to buildings and their contents caused by floods. (FEMA, 1986) NFIP was

Federal Preparedness and Mitigation Programs Disasters can occur at any moment, anywhere; financial and human consequences are very difficult to predict. Disasters, over the last century have been increasing at a rapid rate as over 50% of events require Federal assistance. (FEMA, 2014) Federal mitigation plans and programs reduce the impact of a given disaster also with our dependence on taxes, Treasury for relief. Mitigation is the effort to reduce loss of life and property by lessening the

Inspections, Drainage Maintenance, Fleet Maintenance, and Staff Training. The National Flood Insurance Program’s (NFIP) Community Rating System (CRS) is a voluntary program that recognizes and encourages community floodplain management. Residents of a participating community receive a reduction in flood insurance that is based on the level of that community’s participation in the program. Besides the benefit of reduced insurance rates, CRS floodplain

regarding flood damage through community flood plain management which also provides protection for property owners regarding flood insurance.According to the agreement between local communities and Federal Government will provide management of flood insurance within the community for financial protection against flood losses if a community will make a floodplain management to reduce future flood risks to new construction in Special Flood Hazards Areas. Initially,it involves only constructing flood control

between about the renewal of the flood insurance program. The National Flood Insurance Program (NFIP) that expires this year may be replaced by the 21st Century Flood Reform Act, which many think is biased against New Jersey. The bill would set the program in place for 5 years and with that would come higher premiums for policyholders. Those against the proposed extension, like N.J. Republican Frank LoBiondo, are not in favor of the price increase. Homes built before flood areas were mapped would have

purpose of this paper is to evaluate the 21st Century Flood Reform Act and to provide a recommendation on whether the Senate should vote for or against it. In order to provide an informed recommendation, this paper will first present background information on the 21st Century Flood Reform Act and explain what it proposes. Following the background information, this paper will analyze arguments both in support and in opposition of the 21st Century Flood Reform Act. To conclude, this paper will make a

Flood control is a public good that helps to prevent flooding which, benefits the community, but can cause market failure. Flooding can cause serious property damage and harm the lives of people and other species. Floods can be caused by many reasons such as, high tides, hurricanes, tsunamis, heavy rains, broken dams and more. Flood control is used to help prevent disasters caused by flooding waters. Flood control is important everywhere, but it is even more important in areas where there are