Tag Archives: flood insurance

Does the Homeowner Flood Insurance Affordability Act “Gut” Biggert-Waters?

Six months ago we wrote about the 2012 Biggert-Waters Act (BW-12) and people’s reactions to it at that time.  In the intervening six months, a lot of reacting has happened.  Most importantly, the Homeowner Flood Insurance Affordability Act (HFIAA) was passed. After Biggert-Waters was passed, there was a public outcry.  It was so universal across … Continue reading Does the Homeowner Flood Insurance Affordability Act “Gut” Biggert-Waters? »

The Biggert-Waters Act: What Does It Do, and What Next?

Drafted in the wake of the 2004/2005 hurricane season and Superstorm Sandy, the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12, or Biggert-Waters) makes a number of changes to the National Flood Insurance Program (NFIP).  The changes are primarily rate increases or re-mappings to “reflect true flood risk.”  Essentially, BW-12 eliminates, or gradually eliminates, subsidies … Continue reading The Biggert-Waters Act: What Does It Do, and What Next? »

The Receding Tide of the National Flood Insurance Program

So I recently had an argument with myself about the NFIP.  Just in case someone from the “outside” world (outside insurance, that is), made it onto this particular thought-provoking article and is unsure of what the NFIP is, I will fill you in. In 1968 Congress enacted the National Flood Insurance Act.  This act created … Continue reading The Receding Tide of the National Flood Insurance Program »

Should the National Flood Insurance Program be privatized?

According to a recent story in National Underwriter, FEMA has indicated that Congress is considering significant reforms to the National Flood Insurance Program (NFIP).  At a recent FEMA-sponsored forum, several trade groups have put forth suggestions for reform, among them privatization, either partially or in total.  The speakers, representing the Reinsurance Association of America and … Continue reading Should the National Flood Insurance Program be privatized? »