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The National Flood Insurance Program Edie Lohmann, FEMA Region IX NFIP Insurance Specialist.

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Presentation on theme: "The National Flood Insurance Program Edie Lohmann, FEMA Region IX NFIP Insurance Specialist."— Presentation transcript:

1 The National Flood Insurance Program Edie Lohmann, FEMA Region IX NFIP Insurance Specialist

2 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 3 How the NFIP Works

4 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 5 1. Ensure long term sustainability and financial soundness 2. Respond to the rising costs and consequences of flooding

6 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 7 BW 2012: Section by Section Section 205 & 207

8 8 Build Safer and Stronger Changing the Message About Flood Insurance

9 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 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, 2012 2.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 11 Full Risk Rates  Reduce the Risk, Reduce the Rate Zone AE Rates Effective October 1, 2012

12 12 BW 12 Section 205 - California Total California NFIP Policies: 256,836 81% 14% 3% 2% 3% 2% 95% Data as of 12/31/12

13 13 Key Takeaways - Mitigation Understand the Risk Buy Down the Risk Build Safer, Stronger & Smarter Collaborate & Communicate

14 14 FloodSmart www.FloodSmart.gov


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