Flood Insurance Reform Act

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On March 21, 2014, President Obama signed the Homeowner Flood Insurance Affordability Act of 2014 into law.

This law repeals and modifies certain provisions of the Biggert-Waters Flood Insurance Reform Act, which was enacted in 2012. FEMA looks forward to working with Congress, the private Write Your Own Insurance Companies, and other stakeholders to implement these Congressionally-mandated reforms and to working toward our shared goals of helping families maintain affordable flood insurance, ensuring the financial stability of the NFIP and reducing the risks and consequences of flooding nationwide. FEMA will continue to identify and publish special flood hazards and flood risk zones as authorized and required by Congress.

Resources on this page reflect previous changes to the NFIP from the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) and the Consolidated Appropriations Act of 2014. Materials will be updated to reflect the Homeowner Flood Insurance Affordability Act of 2014.

More information on the new law and its impacts on the NFIP will be forthcoming.

Consolidated Appropriations Act of 2014

Biggert-Waters Flood Insurance Reform Act

In July 2012, the U.S. Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) which calls on the Federal Emergency Management Agency (FEMA), and other agencies, to make a number of changes to the way the National Flood Insurance Program (NFIP) is run. Some of these changes already have occurred, and others will be implemented in the coming months. Key provisions of the legislation will require the NFIP to raise rates to reflect true flood risk, make the program more financially stable, and change how Flood Insurance Rate Map (FIRM) updates impact policyholders. The changes will mean premium rate increases for some—but not all—policyholders over time. Homeowners and business owners are encouraged to learn their flood risk and talk to their insurance agent to determine if their policy will be affected by BW-12.

Overview

Videos

Pre-FIRM Subsidy Removal (Starting in 2013)

Building and Rebuilding Information for Home and Business Owners


  • Scenario showing cost effectiveness of building above the BFE

  • Scenario showing cost effectiveness of building above the BFE
  • Build Back Safer and Stronger: What You Need to Know (English and Spanish)
    A tri-fold brochure explaining how rebuilding higher and mitigating flood risk can reduce flood insurance premiums and reduce the chance of future flood damage
  • Homeowner's Guide to Elevation Certificates
    Guidance for obtaining an Elevation Certificate, which is necessary for determining full-risk rates in high-risk zones

Information for Real Estate Professionals

Information for the Insurance Industry

Information for State and Local Officials

  • FAQs for Historic Structures and BW 12
    Frequently Asked Questions (FAQs) associated with the Biggert-Waters Flood Insurance Reform Act of 2012 (BW 12) and how it affects Historic Structures in the Special Flood Hazard Area (SFHA).

Elevation Certificate Resources and Information

  • NFIP Elevation Certificate and Instructions
    An administrative tool of the NFIP used to provide elevation information necessary to ensure compliance with to community floodplain management ordinances, to determine the proper insurance premium rate, or support a request for a Letter of Map Amendment (LOMA).
  • Homeowners Guide to Elevation Certificates
    A fact sheet explaining what an Elevation Certificate is, who needs one, and how to get one.
  • EC Made EZ videos
    This on-demand video series includes nine videos explaining what an Elevation Certificate is, how it should be completed, who can complete it, and what an agent needs to do with the document.
  • Elevation Certificate training
    Find various training opportunities to learn more about Elevation Certificates.
  • NFIP Flood Insurance Manual
    See Section 7 for Lowest Floor Guide and Section 8 for Certifications.
  • WYO Bulletins: W-13046 and W-13041
    Direction for agents and a policyholder letter explaining Elevation Certificate requirements and the use of tentative rates for new, lapsed, or assigned pre-FIRM subsidized policies.
  • Quick Reference Guide
    A quick look at how the removal of pre-FIRM subsidies affects different policyholders. Includes information about when an Elevation Certificate is required and when tentative rates can be used.
  • Changes to Flood Insurance Rates: What to Know and How to Explain Them
    An overview of pre-FIRM subsidy removal and six detailed scenarios with talking points for working with clients. Includes information about when an Elevation Certificate is required and when tentative rates can be used.
  • The Biggert-Waters Flood Insurance Reform Act of 2012: Elevation Ratings
    A short video explaining what it means for a policy to be elevation rated, what an Elevation Certificate is, how to get an Elevation Certificate, and who needs an Elevation Certificate.
  • Converting Vertical Datums
    A fact sheet that discusses the importance of ensuring the same vertical datums are used when working with elevation data from flood maps and Elevation Certificates.

News Source : Flood Insurance Reform Act

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