Biggert – Waters Flood Insurance Reform Act

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Flood Insurance Reform Act of 2012

In July 2012, the U.S. Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) which calls on the Federal Emergency Management Agency (FEMA), and other agencies, to make a number of changes to the way the National Flood Insurance Program (NFIP) is run. Some of these changes already have occurred, and others will be implemented in the coming months. Key provisions of the legislation will require the NFIP to raise rates to reflect true flood risk, make the program more financially stable, and change how Flood Insurance Rate Map (FIRM) updates impact policyholders. The changes will mean premium rate increases for some—but not all—policyholders over time. Homeowners and business owners are encouraged to learn their flood risk and talk to their insurance agent to determine if their policy will be affected by BW-12.BW-12 Overview

Instructional Videos

Flood Insurance Reform Act of 2012 Video
A video that describes the history and upcoming changes to the National Flood Insurance Program

SEE MORE VIDEOS AT THESE LINKS:

The Biggert-Waters Flood Insurance Reform Act of 2012: An Overview
The Biggert-Waters Flood Insurance Reform Act of 2012: Elevation Ratings
The Biggert-Waters Flood Insurance Reform Act of 2012: Addressing Flood Risk
The Biggert-Waters Flood Insurance Reform Act of 2012: What Is a Subsidized Rate?
The Biggert-Waters Flood Insurance Reform Act of 2012: Moving Away from Subsidies
The Biggert-Waters Flood Insurance Reform Act of 2012: Reducing Insurance Costs