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Flood Insurance Reform

This page discusses the history of the formation of the National Flood Insurance Program (NFIP), the current state of nation-wide mapping, legislation and its impacts on the NFIP, rate changes, how we work with our partners, like Write Your Own private insurance companies, and more.

In 1968, Congress created the National Flood Insurance Program (NFIP) provide a means for property owners to protect themselves financially from flood events. The NFIP offers flood insurance to homeowners, renters and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce floodplain management ordinances that meet or exceed FEMA requirements.

Since the NFIP’s inception, additional legislation has been enacted to strengthen the program, ensure its fiscal soundness and inform its mapping and insurance rate-setting through expert consultation, reports and studies.

Today the program is focused on implementing recent legislation by adjusting premium increases, issuing new rates and map updates, supporting mitigation and ensuring special advocacy to connect policyholders with the information they need to better understand the program.

Resources

Property Owners and Renters

Insurance Agents

The agency is working closely with its National Flood Insurance Program (NFIP) Direct Servicing Agent (DSA) and Write Your Own (WYO) program participating insurance companies that sell and service federal flood insurance so eligible policyholders may receive refunds beginning this fall. The agency has also issued guidance so most impacted policyholders won’t be required to pay rates higher than the law now requires during the time the rate tables are being developed.

Insurance agents may find guidance in the WYO Bulletins the agency issues to the NFIP DSA and WYO companies.

Below, please find technical information about rating policies and when changes will take place, along with information to inform your discussions with clients:

Real Estate Agents

Below, please find information of interest to real estate agents supporting real estate purchase and sales in all flood risk areas:

Community Officials

Below, please find information of interest to local officials to help understand and explain flood insurance changes to residents in their communities:

Last Updated: 
07/11/2017 - 10:34