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INDUSTRY NEWS

NFA Letter on NFIP to Senate & House

NFA Letters to Senate & House Leadership to Extend NFIP Authority As the September 30, 2020 expiration of the National Flood Insurance Program’s (NFIP’s) authority is rapidly approaching, the NFA submitted letters to the Senate and House leadership encouraging the timely extension of the program to prevent a lapse. The NFA is also encouraging member […]

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New Flood Risk Assessment Tool

New Flood Risk Assessment Tool The non-profit research and technology group, First Street Foundation, just released their online probabilistic flood model, FloodFactor, which provides more comprehensive flood risk information for U.S. properties in an easy-to-understand format.  The free tool is the product of more than 80 world-renowned scientists, technologists and analysts who worked in partnership to […]

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Report on Persistent Fiscal Exposure Despite Property Acquisitions

Report on Persistent Fiscal Exposure Despite Property Acquisitions The Government Accountability Office (GAO) has released a report regarding the efficacy of using FEMA grants to acquire repetitive loss properties to the NFIP’s overall and long-term fiscal exposure.  Findings reveal that although acquisition and demolition of these properties reduces certain risks to the program, highly-subsidized premium […]

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CRS Class Changes: FEMA Bulletin w-20007

CRS Class Changes: FEMA’s Bulletin w-20007 FEMA has issued bulletin w-20007 to communicate changes to the Community Rating System (CRS) classifications for communities that will take effect on October 1, 2020. The changes have implications for premium discounts afforded to NFIP policyholders based upon their respective communities’ efforts to meet FEMA’s recommended standards for mitigating […]

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Interagency Questions & Answers Regarding Flood Insurance

Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance Interagency Questions & Answers Regarding Flood Insurance:  a long-awaited draft revision of the 2011 document was jointly published by the Federal Financial Regulatory Agencies last Friday to update certain guidance and to reorganize subject matter to make it easier to reference. […]

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NFA signs letter in support of the USGS 3D Elevation Program

NFA signs letter in support of the USGS 3D Elevation Program From: John Byrd Date: Fri, Apr 24, 2020 Subject: USGS 3DEP — Coalition letter support (52 cosigners) for FY2021 funding 3DEP Coalition Partners: Good morning. Thanks to everyone’s support! Please find the attached 3DEP Coalition letters signed by 52 organizations supportive of USGS 3DEP […]

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Office of Flood Insurance Advocate Releases Annual Report

Office of Flood Insurance Advocate Releases Annual Report The Federal Emergency Management Agency’s Office of the Flood Insurance Advocate (OFIA), an independent office within the Federal Insurance and Mitigation Administration at FEMA, has released its 2019 Annual Report highlighting complex issues NFIP policyholders and property owners face navigating the program. The complex issues identified through […]

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NFA Legislative Committee letter to the Senate Banking Committee: Recommendations for NFIP authorization and future viability

NFA Legislative Committee letter to the Senate Banking Committee: Recommendations for NFIP authorization and future viability June 27, 2018 Honorable Mike Crapo, Chairman Senate Committee on Banking, Housing, and Urban Affairs Honorable Sherrod Brown, Ranking Member Senate Committee on Banking, Housing, and Urban Affairs   Dear Chairman Crapo and Ranking Member Brown, The National Flood […]

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