Support Material Pulse Book For All Axiam
It was the widespread flooding associated with Hurricane Katrina in 2005 that drew attention to the NFIP and set in motion debate. So far, Congress has not taken steps Federal floods are only available where local governments have adopted adequate flood plain management regulations for their floodplain areas as set out by NFIP. About 20,400 communities NFIP coverage is also available out of the high-risk areas. The NFIP law was amended in 1969 to cover coverage for mudslides and again in 1973. Until then, purchase of flood insurance was voluntary, with only about one million policies in force. The 1973 amendment put restrictions on the use of federal funds in high-risk floodplains, a measure that was expected to be almost universal flood coverage in the zones. The law prohibits lenders that are federally regulated, supervised or insured by federal agencies from lending money on a property in a floodplain zone when a community is participating in the NFIP, unless the pro
Legislation was enacted in 1994 to tighten enforcement of flood insurance
requirements. Regulators can now fine banks with a pattern of failure to enforce the law and lenders can buy flood insurance on behalf of homeowners who fail to buy it themselves, and then bill them for coverage. The law includes a provision that causes two disasters to disaster aid people and the first flood after insurance purchased in failed. The NFIP is
administered by FEMA, now part of the Department of Homeland Security Flood insurance was initially available through insurance agents. The "direct" policy program has been supplemented since 1983 with a private / public cooperative arrangement, known as "Write Your Own," through which a pool of insurance companies issue policies and their own names under federal government of favor by flood claims , charging the same premium as the direct program.
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