Chapter One TRANSFORMING THE MANAGEMENT OF LOSS The Origins of the National Flood Insurance Program

Underwater ◽  
2021 ◽  
pp. 32-70
Keyword(s):  
Flood Insurance ◽  
National Flood Insurance Program ◽  
Insurance Program

Does the National Flood Insurance Program Have Redistributional Effects?

2017 ◽  
Vol 17 (4) ◽  
Author(s):  
Okmyung Bin ◽  
John Bishop ◽  
Carolyn Kousky
Keyword(s):  
Emergency Management ◽  
Capita Income ◽  
Federal Emergency Management Agency ◽  
Flood Insurance ◽  
Lower Income ◽  
National Flood Insurance Program ◽  
Insurance Policies ◽  
Insurance Program ◽  
Per Capita ◽  
Zip Code

AbstractThis study examines possible redistributional effects of the National Flood Insurance Program (NFIP), using a nationwide database of flood insurance policies and claims between 2001 and 2013 from the Federal Emergency Management Agency. Applying methods from the tax and transfer progressivity literature, we use the departure from per capita income proportionality at the zip code level as our measure of progressivity. Our findings indicate that premiums as a percentage of coverage purchased are regressive: premium shares are larger than income shares for lower-income zip codes. Payouts, however, also as a percentage of coverage purchased, are progressive, meaning lower-income zip codes receive a larger portion of claims paid. Overall net premiums (premiums – payouts) divided by coverage are also regressive. Our findings are driven by certain aspects of the current rate structure of the NFIP, as well as how income is related to risk. We discuss potential policies to provide assistance to lower-income households in purchasing flood insurance.

scholarly journals COASTAL STORM INDUCED EROSION PREDICTIONS FOR FEMA FIS COASTAL HAZARD RISK MAPPING

2018 ◽  
pp. 103
Author(s):  
Christina Lindemer ◽  
Jeffrey Gangai ◽  
Christopher Mack ◽  
Elena Drei-Horgan ◽  
Darryl Hatheway
Keyword(s):  
Emergency Management ◽  
Additional Data ◽  
Flood Insurance ◽  
Coastal Hazard ◽  
National Flood Insurance Program ◽  
Cross Sectional ◽  
Hazard Risk ◽  
Insurance Program ◽  
Erosion Hazards ◽  
Regulations And Guidelines

Flood Insurance Studies (FISs) produced by the Federal Emergency Management Agency (FEMA) per the National Flood Insurance Program (NFIP) regulations and guidelines adopt storm-induced erosion criteria often called the “540 rule”. The methods used in the erosion analysis have been in place since the 1980s. The method requires dunes to be classified as fully eroded, or “removed”, when their cross-sectional reservoir is smaller than 540 square feet. Since the rule’s first application, additional data and recent evidence have become available leading FEMA to identify this approach as an area of the program in need of updating and improvement. Experts involved in conducting coastal hazard analyses for FEMA studies recommend exploring opportunities to improve FEMA guidelines for erosion criterion and revise NFIP regulations and guidance, as needed, to ensure that storm-related erosion hazards are appropriately evaluated and mapped along US coastlines.

Expanding the National Flood Insurance Program to Cover Coastal Erosion Damage

2003 ◽  
Vol 35 (3) ◽  
pp. 639-647 ◽  
Author(s):  
Andrew Keeler ◽  
Warren Kriesel ◽  
Craig Landry
Keyword(s):  
Management Strategies ◽  
Nationwide Survey ◽  
Flood Insurance ◽  
National Flood Insurance Program ◽  
Erosion Damage ◽  
Considerable Uncertainty ◽  
Demand For Insurance ◽  
Insurance Program ◽  
Property Owners ◽  
The Cost

This paper uses the results of a nationwide survey of coastal property owners to estimate the demand for insurance against erosion damage. The National Flood Insurance Program (NFIP) does not technically cover such damage, although in practice there is considerable uncertainty about this point. The ability to insure against such losses has implications for the choice of beach management strategies and for NFIP management. We find significant demand for insurance at prices in the range of current flood insurance premiums, although median willingness to pay appears to be less than the cost of providing such insurance.

Floodplain creep and beyond: An assessment of next-generation floodplain problems

2007 ◽  
Vol 5 (4) ◽  
pp. 39
Author(s):  
Leora S. Waldner, PhD
Keyword(s):  
Land Use ◽  
Local Governments ◽  
Flood Insurance ◽  
Impervious Surfaces ◽  
Next Generation ◽  
National Flood Insurance Program ◽  
Small Dams ◽  
Insurance Program ◽  
Lack Of Information ◽  
Cut And Fill

Since the 1970s, local jurisdictions have made great strides in protecting their floodplains through land use ordinances. Jurisdictions that joined the National Flood Insurance Program have prohibited structures in the regulatory floodway, and several jurisdictions have gone a step further, prohibiting structures in the 100-year floodplain. What next? If local governments are successfully keeping structures away from floodplains, have they adequately addressed floodplain issues—or do other problems remain unaddressed? This research examines Atlanta-region counties, and uncovers four potential next-generation problems, including the following: (1) floodplain creep (expansion of the floodplain) resulting from increased impervious surfaces and development; (2) the unrestricted development of homes in the 100-year floodplain of small dams; (3) cumulative riparian effects of cut and fill practices; and (4) lack of information for prospective homeowners of floodplain-burdened property.

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