National Flood Insurance Program

URI: https://gptkb.org/entity/National_Flood_Insurance_Program

GPTKB entity

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Statements (54)

Predicate	Object
gptkbp:instanceOf	gptkb:government_agency
gptkbp:abbreviation	gptkb:NFIP
gptkbp:administeredBy	gptkb:Federal_Emergency_Management_Agency
gptkbp:availableOn	gptkb:District_of_Columbia gptkb:U.S._territories all 50 states
gptkbp:claimsPaid	over $70 billion since inception
gptkbp:claimsProcess	filed through insurance agent or company
gptkbp:country	gptkb:United_States
gptkbp:covers	gptkb:property_development commercial property contents
gptkbp:criticizedFor	encourages development in flood-prone areas financial sustainability outdated flood maps
gptkbp:debt	owes billions to U.S. Treasury
gptkbp:eligibility	communities participating in NFIP
gptkbp:established	1968
gptkbp:establishedBy	gptkb:National_Flood_Insurance_Act_of_1968
gptkbp:exceptionToWaitingPeriod	loan closing map revision
gptkbp:excludes	does not cover basement improvements does not cover temporary housing costs does not cover vehicles
gptkbp:fundedBy	gptkb:government policyholder premiums
gptkbp:maximumSpeed	$100,000 for contents $250,000 for residential buildings $500,000 for non-residential buildings
gptkbp:parentOrganization	gptkb:U.S._Department_of_Homeland_Security
gptkbp:policyholders	over 5 million
gptkbp:premiumDeterminedBy	gptkb:place flood risk building characteristics coverage amount deductible
gptkbp:purpose	provide flood insurance to property owners reduce the impact of flooding
gptkbp:reformed	gptkb:Risk_Rating_2.0 2021
gptkbp:reformPurpose	modernize risk assessment and pricing
gptkbp:reinsurance	purchases private reinsurance
gptkbp:relatedLegislation	gptkb:Biggert–Waters_Flood_Insurance_Reform_Act_of_2012 gptkb:Flood_Disaster_Protection_Act_of_1973 gptkb:Homeowner_Flood_Insurance_Affordability_Act_of_2014
gptkbp:renewalPeriod	gptkb:annual must be renewed annually
gptkbp:requires	community must adopt floodplain management regulations
gptkbp:riskAssessmentTool	gptkb:Flood_Insurance_Rate_Map
gptkbp:waitingPeriod	30 days after purchase
gptkbp:website	https://www.fema.gov/flood-insurance
gptkbp:bfsParent	gptkb:Federal_Emergency_Management_Agency
gptkbp:bfsLayer	4
https://www.w3.org/2000/01/rdf-schema#label	National Flood Insurance Program