Tying Flood Insurance To Flood Risk For Low Lying Structures In The Floodplain

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Tying Flood Insurance to Flood Risk for Low-Lying Structures in the Floodplain

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309371694
Total Pages : 86 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Tying Flood Insurance to Flood Risk for Low-Lying Structures in the Floodplain by : National Research Council

Download or read book Tying Flood Insurance to Flood Risk for Low-Lying Structures in the Floodplain written by National Research Council and published by National Academies Press. This book was released on 2015-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Floods take a heavy toll on society, costing lives, damaging buildings and property, disrupting livelihoods, and sometimes necessitating federal disaster relief, which has risen to record levels in recent years. The National Flood Insurance Program (NFIP) was created in 1968 to reduce the flood risk to individuals and their reliance on federal disaster relief by making federal flood insurance available to residents and businesses if their community adopted floodplain management ordinances and minimum standards for new construction in flood prone areas. Insurance rates for structures built after a flood plain map was adopted by the community were intended to reflect the actual risk of flooding, taking into account the likelihood of inundation, the elevation of the structure, and the relationship of inundation to damage to the structure. Today, rates are subsidized for one-fifth of the NFIP's 5.5 million policies. Most of these structures are negatively elevated, that is, the elevation of the lowest floor is lower than the NFIP construction standard. Compared to structures built above the base flood elevation, negatively elevated structures are more likely to incur a loss because they are inundated more frequently, and the depths and durations of inundation are greater. Tying Flood Insurance to Flood Risk for Low-Lying Structures in the Floodplain studies the pricing of negatively elevated structures in the NFIP. This report review current NFIP methods for calculating risk-based premiums for these structures, including risk analysis, flood maps, and engineering data. The report then evaluates alternative approaches for calculating risk-based premiums and discusses engineering hydrologic and property assessment data needs to implement full risk-based premiums. The findings and conclusions of this report will help to improve the accuracy and precision of loss estimates for negatively elevated structures, which in turn will increase the credibility, fairness, and transparency of premiums for policyholders.

Levees and the National Flood Insurance Program

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309282934
Total Pages : 275 pages
Book Rating : 4.3/5 (92 download)

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Book Synopsis Levees and the National Flood Insurance Program by : National Research Council

Download or read book Levees and the National Flood Insurance Program written by National Research Council and published by National Academies Press. This book was released on 2013-07-18 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Emergency Management Agency's (FEMA) Federal Insurance and Mitigation Administration (FIMA) manages the National Flood Insurance Program (NFIP), which is a cornerstone in the U.S. strategy to assist communities to prepare for, mitigate against, and recover from flood disasters. The NFIP was established by Congress with passage of the National Flood Insurance Act in 1968, to help reduce future flood damages through NFIP community floodplain regulation that would control development in flood hazard areas, provide insurance for a premium to property owners, and reduce federal expenditures for disaster assistance. The flood insurance is available only to owners of insurable property located in communities that participate in the NFIP. Currently, the program has 5,555,915 million policies in 21,881 communities3 across the United States. The NFIP defines the one percent annual chance flood (100-year or base flood) floodplain as a Special Flood Hazard Area (SFHA). The SFHA is delineated on FEMA's Flood Insurance Rate Maps (FIRM's) using topographic, meteorologic, hydrologic, and hydraulic information. Property owners with a federally back mortgage within the SFHAs are required to purchase and retain flood insurance, called the mandatory flood insurance purchase requirement (MPR). Levees and floodwalls, hereafter referred to as levees, have been part of flood management in the United States since the late 1700's because they are relatively easy to build and a reasonable infrastructure investment. A levee is a man-made structure, usually an earthen embankment, designed and constructed in accordance with sound engineering practices to contain, control, or divert the flow of water so as to provide protection from temporary flooding. A levee system is a flood protection system which consists of a levee, or levees, and associated structures, such as closure and drainage devices, which are constructed and operated in accordance with sound engineering practices. Recognizing the need for improving the NFIP's treatment of levees, FEMA officials approached the National Research Council's (NRC) Water Science and Technology Board (WSTB) and requested this study. The NRC responded by forming the ad hoc Committee on Levee and the National Flood Insurance Program: Improving Policies and Practices, charged to examine current FEMA treatment of levees within the NFIP and provide advice on how those levee-elated policies and activities could be improved. The study addressed four broad areas, risk analysis, flood insurance, risk reduction, and risk communication, regarding how levees are considered in the NFIP. Specific issues within these areas include current risk analysis and mapping procedures behind accredited and non-accredited levees, flood insurance pricing and the mandatory flood insurance purchase requirement, mitigation options to reduce risk for communities with levees, flood risk communication efforts, and the concept of shared responsibility. The principal conclusions and recommendations are highlighted in this report.

Elevated Residential Structures

Author : Federal Emergency
Publisher : The Minerva Group, Inc.
ISBN 13 : 9781410210562
Total Pages : 160 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis Elevated Residential Structures by : Federal Emergency

Download or read book Elevated Residential Structures written by Federal Emergency and published by The Minerva Group, Inc.. This book was released on 2003-12-29 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual is for designers, developers, builders, and others who wish to build elevated residential structures in flood-prone areas prudently. Contents: Environmental and Regulatory Factors Site Analysis and Design Architectural Design Examples Design and Construction Guidelines Cost Analysis Resource Materials

Mapping the Zone

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309130573
Total Pages : 136 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Mapping the Zone by : National Research Council

Download or read book Mapping the Zone written by National Research Council and published by National Academies Press. This book was released on 2009-06-15 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal Emergency Management Agency (FEMA) Flood Insurance Rate Maps portray the height and extent to which flooding is expected to occur, and they form the basis for setting flood insurance premiums and regulating development in the floodplain. As such, they are an important tool for individuals, businesses, communities, and government agencies to understand and deal with flood hazard and flood risk. Improving map accuracy is therefore not an academic question-better maps help everyone. Making and maintaining an accurate flood map is neither simple nor inexpensive. Even after an investment of more than $1 billion to take flood maps into the digital world, only 21 percent of the population has maps that meet or exceed national flood hazard data quality thresholds. Even when floodplains are mapped with high accuracy, land development and natural changes to the landscape or hydrologic systems create the need for continuous map maintenance and updates. Mapping the Zone examines the factors that affect flood map accuracy, assesses the benefits and costs of more accurate flood maps, and recommends ways to improve flood mapping, communication, and management of flood-related data.

Framing the Challenge of Urban Flooding in the United States

Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 030948961X
Total Pages : 101 pages
Book Rating : 4.3/5 (94 download)

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Book Synopsis Framing the Challenge of Urban Flooding in the United States by : National Academies of Sciences, Engineering, and Medicine

Download or read book Framing the Challenge of Urban Flooding in the United States written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2019-04-29 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Flooding is the natural hazard with the greatest economic and social impact in the United States, and these impacts are becoming more severe over time. Catastrophic flooding from recent hurricanes, including Superstorm Sandy in New York (2012) and Hurricane Harvey in Houston (2017), caused billions of dollars in property damage, adversely affected millions of people, and damaged the economic well-being of major metropolitan areas. Flooding takes a heavy toll even in years without a named storm or event. Major freshwater flood events from 2004 to 2014 cost an average of $9 billion in direct damage and 71 lives annually. These figures do not include the cumulative costs of frequent, small floods, which can be similar to those of infrequent extreme floods. Framing the Challenge of Urban Flooding in the United States contributes to existing knowledge by examining real-world examples in specific metropolitan areas. This report identifies commonalities and variances among the case study metropolitan areas in terms of causes, adverse impacts, unexpected problems in recovery, or effective mitigation strategies, as well as key themes of urban flooding. It also relates, as appropriate, causes and actions of urban flooding to existing federal resources or policies.

Subdivision Design and Flood Hazard Areas

Author : James Schwab
Publisher :
ISBN 13 : 9781611901870
Total Pages : 0 pages
Book Rating : 4.9/5 (18 download)

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Book Synopsis Subdivision Design and Flood Hazard Areas by : James Schwab

Download or read book Subdivision Design and Flood Hazard Areas written by James Schwab and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainability, resilience, and climate change are top of mind for planners and floodplain managers. For subdivision design, those ideas haven't hit home. The results? Catastrophic flood damage in communities across the country. This PAS Report is out to end the cycle of build-damage-rebuild and bring subdivision design into line with the best of floodplain planning. Readers will get the tools they need to save lives, protect property, and lay the foundation for a better future.

Elevation Data for Floodplain Mapping

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309185556
Total Pages : 166 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Elevation Data for Floodplain Mapping by : National Research Council

Download or read book Elevation Data for Floodplain Mapping written by National Research Council and published by National Academies Press. This book was released on 2007-08-16 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Floodplain maps serve as the basis for determining whether homes or buildings require flood insurance under the National Flood Insurance Program run by the Federal Emergency Management Agency (FEMA). Approximately $650 billion in insured assets are now covered under the program. FEMA is modernizing floodplain maps to better serve the program. However, concerns have been raised as to the adequacy of the base map information available to support floodplain map modernization. Elevation Data for Floodplain Mapping shows that there is sufficient two-dimensional base map imagery to meet FEMA's flood map modernization goals, but that the three-dimensional base elevation data that are needed to determine whether a building should have flood insurance are not adequate. This book makes recommendations for a new national digital elevation data collection program to redress the inadequacy. Policy makers; property insurance professionals; federal, local, and state governments; and others concerned with natural disaster prevention and preparedness will find this book of interest.

Flood-proofing Regulations

Author : United States. Army. Corps of Engineers
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Flood-proofing Regulations by : United States. Army. Corps of Engineers

Download or read book Flood-proofing Regulations written by United States. Army. Corps of Engineers and published by . This book was released on 1972 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Community-based Flood Insurance Option

Author : National Academies of Sciences, Engineering, and Medicine (U.S.). Committee On Community-Based Flood Insurance Options
Publisher :
ISBN 13 : 9780309374682
Total Pages : 0 pages
Book Rating : 4.3/5 (746 download)

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Book Synopsis A Community-based Flood Insurance Option by : National Academies of Sciences, Engineering, and Medicine (U.S.). Committee On Community-Based Flood Insurance Options

Download or read book A Community-based Flood Insurance Option written by National Academies of Sciences, Engineering, and Medicine (U.S.). Committee On Community-Based Flood Insurance Options and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: River and coastal floods are among the nation's most costly natural disasters. One component in the nation's approach to managing flood risk is availability of flood insurance policies, which are offered on an individual basis primarily through the National Flood Insurance Program (NFIP). Established in 1968, the NFIP is overseen by the Federal Emergency Management Agency (FEMA) and there are about 5.4 million individual policies in the NFIP. The program has experienced a mixture of successes and persistent challenges. Successes include a large number of policy holders, the insurance of approximately $1.3 trillion of property, and the fact that the large majority of policy holders - 80% - pay rates that are risk based. NFIP challenges include large program debt, relatively low rates of purchase in many flood-prone areas, a host of issues regarding affordability of premiums, ensuring that premiums collected cover payouts and administrative fees, and a large number of properties that experience severe repetitive flood losses. At the request of FEMA, A Community-Based Flood Insurance Option identifies a range of key issues and questions that would merit consideration and further analysis as part of a community-based flood insurance program. As the report describes, the community-based option certainly offers potential benefits, such as the prospect of providing coverage for all (or nearly all) at-risk residents and properties in flood-prone communities. At the same time, many current challenges facing the NFIP may not necessarily be resolved by a community-based approach. This report discusses these and other prominent issues to be considered and further assessed.

Selecting Appropriate Mitigation Measures for Floodprone Structures

Author : United States. Federal Emergency Management Agency
Publisher : FEMA
ISBN 13 :
Total Pages : 199 pages
Book Rating : 4./5 ( download)

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Book Synopsis Selecting Appropriate Mitigation Measures for Floodprone Structures by : United States. Federal Emergency Management Agency

Download or read book Selecting Appropriate Mitigation Measures for Floodprone Structures written by United States. Federal Emergency Management Agency and published by FEMA. This book was released on 2007 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Management of Flood Risk

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264257683
Total Pages : 136 pages
Book Rating : 4.2/5 (642 download)

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Book Synopsis Financial Management of Flood Risk by : OECD

Download or read book Financial Management of Flood Risk written by OECD and published by OECD Publishing. This book was released on 2016-07-29 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disasters present a broad range of human, social, financial, economic and environmental impacts, with potentially long-lasting effects. This report applies the lessons from the OECD’s analysis of disaster risk financing practices and its risk guidance to the specific case of floods.

Affordability of National Flood Insurance Program Premiums

Author : National Research Council (U.S.). Committee on National Statistics
Publisher :
ISBN 13 : 9780309371254
Total Pages : 0 pages
Book Rating : 4.3/5 (712 download)

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Book Synopsis Affordability of National Flood Insurance Program Premiums by : National Research Council (U.S.). Committee on National Statistics

Download or read book Affordability of National Flood Insurance Program Premiums written by National Research Council (U.S.). Committee on National Statistics and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) is housed within the Federal Emergency Management Agency (FEMA) and offers insurance policies that are marketed and sold through private insurers, but with the risks borne by the U.S. federal government. NFIP's primary goals are to ensure affordable insurance premiums, secure widespread community participation in the program, and earn premium and fee income that covers claims paid and program expenses over time. In July 2012, the U.S. Congress passed the Biggert-Waters Flood Insurance Reform and Modernization Act (Biggert-Waters 2012), designed to move toward an insurance program with NFIP risk-based premiums that better reflected expected losses from floods at insured properties. This eliminated policies priced at what the NFIP called "pre-FIRM subsidized" and "grandfathered." As Biggert-Waters 2012 went into effect, constituents from multiple communities expressed concerns about the elimination of lower rate classes, arguing that it created a financial burden on policy holders. In response to these concerns Congress passed The Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 2014). The 2014 legislation changed the process by which pre-FIRM subsidized premiums for primary residences would be removed and reinstated grandfathering. As part of that legislation, FEMA must report back to Congress with a draft affordability framework. Affordability of National Flood Insurance Program Premiums: Report 1 is the first part of a two-part study to provide input as FEMA prepares their draft affordability framework. This report discusses the underlying definitions and methods for an affordability framework and the affordability concept and applications. Affordability of National Flood Insurance Program Premiums gives an overview of the demand for insurance and the history of the NFIP premium setting. The report then describes alternatives for determining when the premium increases resulting from Biggert-Waters 2012 would make flood insurance unaffordable.

Homeowner's Guide to Retrofitting

Author :
Publisher :
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Homeowner's Guide to Retrofitting by :

Download or read book Homeowner's Guide to Retrofitting written by and published by . This book was released on 1998 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Flooding and Management of Large Fluvial Lowlands

Author : Paul F. Hudson
Publisher : Cambridge University Press
ISBN 13 : 0521768608
Total Pages : 349 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis Flooding and Management of Large Fluvial Lowlands by : Paul F. Hudson

Download or read book Flooding and Management of Large Fluvial Lowlands written by Paul F. Hudson and published by Cambridge University Press. This book was released on 2021-11-25 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines interrelations between flood management, flooding, and environmental change, for advanced students, researchers, and practitioners.

Engineering Principles and Practices for Retrofitting Flood-Prone Residential Structures

Author :
Publisher : FEMA
ISBN 13 :
Total Pages : 1000 pages
Book Rating : 4./5 ( download)

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Book Synopsis Engineering Principles and Practices for Retrofitting Flood-Prone Residential Structures by :

Download or read book Engineering Principles and Practices for Retrofitting Flood-Prone Residential Structures written by and published by FEMA. This book was released on 2001 with total page 1000 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Repairing Your Flooded Home

Author :
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Repairing Your Flooded Home by :

Download or read book Repairing Your Flooded Home written by and published by . This book was released on 2010 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: When in doubt, throw it out. Don't risk injury or infection. 2: Ask for help. Many people can do a lot of the cleanup and repairs discussed in this book. But if you have technical questions or do not feel comfortable doing something, get professional help. If there is a federal disaster declaration, a telephone "hotline" will often be publicized to provide information about public, private, and voluntary agency programs to help you recover from the flood. Government disaster programs are there to help you, the taxpayer. You're paying for them; check them out. 3: Floodproof. It is very likely that your home will be flooded again someday. Floodproofing means using materials and practices that will prevent or minimize flood damage in the future. Many floodproofing techniques are inexpensive or can be easily incorporated into your rebuilding program. You can save a lot of money by floodproofing as you repair and rebuild (see Step 8).

Affordability of National Flood Insurance Program Premiums

Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309380774
Total Pages : 151 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Affordability of National Flood Insurance Program Premiums by : National Academies of Sciences, Engineering, and Medicine

Download or read book Affordability of National Flood Insurance Program Premiums written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-02-21 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Congress authorized the National Flood Insurance Program (NFIP) in 1968, it intended for the program to encourage community initiatives in flood risk management, charge insurance premiums consistent with actuarial pricing principles, and encourage the purchase of flood insurance by owners of flood prone properties, in part, by offering affordable premiums. The NFIP has been reauthorized many times since 1968, most recently with the Biggert-Waters Flood Insurance Reform Act of 2012 (BW 2012). In this most recent reauthorization, Congress placed a particular emphasis on setting flood insurance premiums following actuarial pricing principles, which was motivated by a desire to ensure future revenues were adequate to pay claims and administrative expenses. BW 2012 was designed to move the NFIP towards risk-based premiums for all flood insurance policies. The result was to be increased premiums for some policyholders that had been paying less than NFIP risk-based premiums and to possibly increase premiums for all policyholders. Recognition of this possibility and concern for the affordability of flood insurance is reflected in sections of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 2014). These sections called on FEMA to propose a draft affordability framework for the NFIP after completing an analysis of the efforts of possible programs for offering "means-tested assistance" to policyholders for whom higher rates may not be affordable. BW 2012 and HFIAA 2014 mandated that FEMA conduct a study, in cooperation with the National Academies of Sciences, Engineering, and Medicine, which would compare the costs of a program of risk-based rates and means-tested assistance to the current system of subsidized flood insurance rates and federally funded disaster relief for people without coverage. Production of two reports was agreed upon to fulfill this mandate. This second report proposes alternative approaches for a national evaluation of affordability program policy options and includes lessons for the design of a national study from a proof-of-concept pilot study.