Home
Solutions
Products
Pricing
Resources
Request Demo
Start Free
Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo
StateStorm

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

  • 188 new people
  • 171 new organizations
  • 295 new photos
  • 1329 job history records for people in our database
  • 700 education records for people in our database
  • 788 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
  • 4 new people through the revolving door
  • 162 new policy reports
  • 40 new trips to our privately funded travel database
  • 441 new personal financial disclosures
  • 7719 new press releases
  • 22 new town halls
  • 73 new hearings

Caught Our Eye Rss

» More from Caught Our Eye
» More from our DevBlog

Private Flood Insurance and the National Flood Insurance Program (NFIP) (CRS Report for Congress)

Premium   Purchase PDF for $24.95 (3 pages)
add to cart or subscribe for unlimited access
Release Date Revised March 29, 2024
Report Number IN10450
Report Type Insight
Authors Baird Webel; Diane P. Horn
Source Agency Congressional Research Service
Older Revisions
  • Premium   Revised Jan. 31, 2024 (3 pages, $24.95) add
  • Premium   Revised Nov. 28, 2023 (3 pages, $24.95) add
  • Premium   Revised Dec. 9, 2021 (2 pages, $24.95) add
  • Premium   Revised Nov. 19, 2021 (3 pages, $24.95) add
  • Premium   Revised Oct. 8, 2020 (3 pages, $24.95) add
  • Premium   Revised Dec. 30, 2019 (2 pages, $24.95) add
  • Premium   Revised Nov. 26, 2019 (3 pages, $24.95) add
  • Premium   Revised Oct. 8, 2019 (3 pages, $24.95) add
  • Premium   Revised Aug. 1, 2019 (2 pages, $24.95) add
  • Premium   Revised Feb. 28, 2019 (3 pages, $24.95) add
  • Premium   Revised Jan. 8, 2019 (3 pages, $24.95) add
  • Premium   Revised July 31, 2018 (2 pages, $24.95) add
  • Premium   Revised July 1, 2018 (2 pages, $24.95) add
  • Premium   Revised April 16, 2018 (3 pages, $24.95) add
  • Premium   Revised April 6, 2018 (3 pages, $24.95) add
  • Premium   Revised March 5, 2018 (2 pages, $24.95) add
  • Premium   Revised Jan. 3, 2018 (3 pages, $24.95) add
  • Premium   Revised Nov. 17, 2017 (3 pages, $24.95) add
  • Premium   Revised June 2, 2017 (3 pages, $24.95) add
  • Premium   Revised Oct. 12, 2016 (3 pages, $24.95) add
  • Premium   April 25, 2016 (3 pages, $24.95) add
Summary:

The NFIP was first authorized by the National Flood Insurance Act of 1968 (42 U.S.C. §§4001 et seq.), and was reauthorized until the end of FY2017 by the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12, Title II of P.L. 112-141). After a series of short-term reauthorizations, P.L. 115-225 reauthorized the NFIP until November 30, 2018. In statute, Congress has found that (1) many factors have made it uneconomic for the private insurance industry alone to make flood insurance available to those in need of such protection on reasonable terms and conditions; but (2) a program of flood insurance with large-scale participation of the Federal Government and carried out to the maximum extent practicable by the private insurance industry is feasible and can be initiated. (42 U.S.C. §4001(b)) By law or regulation, federal agencies, federally regulated lending institutions, and government-sponsored enterprises (GSEs) must require certain property owners to purchase flood insurance as a condition of any mortgage that these entities make, guarantee, or purchase. Property owners are required to purchase flood insurance if their property is identified as being in a Special Flood Hazard Area (SFHA, which is equivalent to having a 1% or greater risk of flooding every year) and is in a community that participates in the NFIP. Historically, this has generally meant that such property owners were required to purchase a Standard Flood Insurance Policy (SFIP) from the NFIP. In BW-12, Congress explicitly allowed federal agencies to accept private flood insurance to fulfill this mortgage requirement instead of the SFIP, ifthe private flood insurance met the conditions defined further in statute at 42 U.S.C. 4012a(b)(7).
HomeAbout Us Contact UsPrivacy PolicyTerms of UseJoin Us
© LegiStorm
LegiStorm
2101 L St. NW, Suite 300
Washington, DC 20037
(202) 360-4172 / congress@legistorm.com