Federal Flood Legislation

FAIR Supports a Comprehensive Approach to Flood Insurance

Adequate flood protection is vital to the resiliency of communities across America.  Home and business owners must have access to quality flood insurance coverage at affordable rates to recover more quickly and completely following a flood event.

Despite increased flooding nationwide, the National Flood Insurance Program (NFIP) has been shrinking. In 2009, there were a record 5.7 million NFIP policies in force. By 2017, there were just over 5.1 million NFIP policies in force, a decrease of approximately 10%1.

According to FEMA, in May 2018, 69% of the residential properties in Special Flood Hazard Areas (SFHA) did not have a NFIP policy. Outside of the SFHAs, 98% of residential properties did not have a NFIP policy. In total, 96.2% of residential properties in the U.S. do not have federal flood insurance. While the private flood insurance market is growing to alleviate additional flood risk exposure, the cumulative coverage levels are profoundly insufficient.

US Legislation

This extreme uninsured and underinsured risk is a threat that can only be effectively addressed through a combination of a healthy NFIP and a robust private flood insurance market.

Year after year, the NFIP has received short-term reauthorizations from Congress. Moving forward, it will be critical to pass a long-term reauthorization bill and to tackle much-needed reforms that will make the program more sustainable and keep coverage affordable.

FAIR supports full, long-term reauthorization of the NFIP and public policy improvements necessary to both encourage growth in the private flood insurance market and protect consumers.

1 FEMA Total Policies in Force by Calendar Year (https://www.fema.gov/total-policies-force-calendar-year)

FAIR Supports Efforts to Create a More Flood Resilient Country

Flooding is the most common and costly natural disaster in the United States. In addition to supporting comprehensive flood insurance reform, FAIR supports efforts to make the U.S. more resilient to the impact of flooding. This includes efforts to create more flood-ready infrastructure, fund mitigation projects across the country, and efforts to incentivize individual property owners to better prepare their property from flood losses. These efforts are critical for preparing our country for future flooding and from the impacts of climate change. Furthermore, these efforts would reduce the losses from a disaster and would in turn help reduce the cost of insurance for consumers.

Legislation FAIR Supports in the 117th Congress (2021-2022):

Federal Flood Legislative Updates

NFIP Authorized through February 18, 2022

On Thursday, December 2, 2021, Congress passed a continuing resolution (CR) to fund the federal government and authorize the National Flood Insurance Program (NFIP) through February 18, 2022. Both funding and the NFIP had been set to expire on December 3, 2021. The NFIP had previously been authorized through December 3, 2021, in a similar…

Read more

Press Release: FAIR Calls on Congress to Enact NFIP Reforms

FOR IMMEDIATE RELEASE Federal Association for Insurance Reform (FAIR) sends Letter to Congress: NFIP Reauthorization, Risk Rating 2.0, & Affordability This morning, FAIR sent a letter to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. Specifically, FAIR supports full, long-term reauthorization of the National Flood Insurance Program…

Read more

Congress Extends NFIP through September 2020

On Friday, December 20th, President Donald Trump signed a bill extending the National Flood Insurance Program (NFIP) through September 30th, 2020. The NFIP authorization was set to expire at midnight on Friday. While FAIR applauds the one year extension, we will continue to advocate for a longer-term extension that includes needed structural reforms to the…

Read more

President Trump Signs Legislation Passed by Congress Extending the NFIP’s Authorization to September 30, 2019

On June 6, 2019, President Trump signed legislation passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to September 30, 2019.   Congress must now reauthorize the NFIP by no later than 11:59 pm on September 30, 2019.   Learn more below: FEMA: National Flood Insurance Program: Reauthorization  

Read more