The Lender Placed Flood Insurance Market For Residential Properties

Author : Lloyd S. Dixon
Publisher : Rand Corporation
ISBN 13 : 083304155X
Total Pages : 75 pages
Book Rating : 4.55/5 ( download)

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Download or read book The Lender-placed Flood Insurance Market for Residential Properties written by Lloyd S. Dixon and published by Rand Corporation. This book was released on 2007 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) provides the majority of flood insurance on U.S. residential properties. While insurance agents sell nearly all NFIP policies through private insurance companies, the U.S. government still underwrites them. Flood insurance is also available from private insurers that underwrite it themselves. This report provides information about the size of the private market and compares private with NFIP policies.

Author :
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.83/5 ( download)

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Download or read book Flood Insurance : Information on the Mandatory Purchase Requirement written by and published by . This book was released on 1990 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309282934
Total Pages : 275 pages
Book Rating : 4.32/5 ( download)

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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.

Author : Perry Beider
Publisher : DIANE Publishing
ISBN 13 : 1437925499
Total Pages : 52 pages
Book Rating : 4.94/5 ( download)

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Download or read book National Flood Insurance Program: Factors Affecting Actuarial Soundness written by Perry Beider and published by DIANE Publishing. This book was released on 2010-11 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The vast majority of homes and small commercial buildings that are insured against flood damage in the U.S. are covered by the Nat. Flood Insur. Program (NFIP). Although the flood insurance (FI) program had been largely self-sustaining in the past, it had to borrow $17 billion from the federal Treasury to pay claims after the catastrophic hurricanes of 2005. That borrowing has highlighted questions about the program¿s financial health, including the actuarial soundness of the premium rates charged on policies that are not explicitly subsidized and the cost of paying claims for properties that have suffered multiple flood losses. This report explains how NFIP sets ¿full-risk¿ premium rates for the FI program. Charts and tables.

Author :
Publisher : FEMA
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4./5 ( download)

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Download or read book National Flood Insurance Program: Answers to Questions About the NFIP written by and published by FEMA. This book was released on 1980 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Jeffrey R. Brown
Publisher : AEI Press
ISBN 13 : 0844743410
Total Pages : 243 pages
Book Rating : 4.17/5 ( download)

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Download or read book Public Insurance and Private Markets written by Jeffrey R. Brown and published by AEI Press. This book was released on 2010-07-16 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Insurance and Private Markets offers market-based guidelines for the proper scope of government intervention and the design of public insurance programs_guidelines that will benefit the U.S. economy and protect the resources of future generations.

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Insurance
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.25/5 ( download)

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Download or read book Opportunities for a Private and Competitive Sustainable Flood Insurance Market written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Insurance and published by . This book was released on 2015 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : United States. Federal Emergency Management Agency
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.24/5 ( download)

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Download or read book Mandatory Purchase of Flood Insurance Guidelines written by United States. Federal Emergency Management Agency and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher :
ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.5R/5 ( download)

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Download or read book Reauthorization of the National Flood Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2012 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Orice M. Williams
Publisher : DIANE Publishing
ISBN 13 : 1437914837
Total Pages : 33 pages
Book Rating : 4.32/5 ( download)

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Download or read book Information on Proposed Changes to the National Flood Insurance Program written by Orice M. Williams and published by DIANE Publishing. This book was released on 2009-06 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nat. Flood Insur. Program (NFIP) currently has 5.6 million policyholders that are insured for $1.1 trillion. The program collects $2.9 billion in annual premiums. As of Jan. 2009, NFIP owed $19.2 billion to the U.S. Treasury, primarily as a result of loans that the program received to pay claims from the 2005 hurricane season. This is a briefing on: (1) the percentage and geographic distribution of policyholders that purchase the max. NFIP coverage; (2) the availability of private commercial and residential flood insur.; (3) the potential effect of adding bus. interruption coverage to commercial flood insur., particularly for small and medium-sized bus.; and (4) the challenges and issues surrounding the potential creation of an NFIP loss fund. Illus.