While characterized by FEMA as voluntary, most of the communities participating in the NFIP – now more than 22,500 nationwide – consider the program mandatory. That is because in 1973, when only a small number of property owners had begun to purchase flood insurance through the Program, Cong...
In exchange for engaging in additional floodplain management activities, policyholders residing in CRS-participating communities receive discounts in their flood insurance premiums. To better understand the factors driving CRS participation, this study uses propensity score matching to match 100 randomly ...
VoluntaryincentiveprogramforNFIP participatingcommunities. Reducedfloodinsurancepremiumsforcitizens inreturnforbetterfloodplainmanagementby communities. CRSismodeledaftertheISOfireinsurance ratingsystem. CRSQuickFactsCRSQuickFacts CRSGoals Reduceflooddamagetoinsurableproperty. Strengthen/supportinsuranceaspectsofNFIP. Encour...
In 1968, Congress created theNational Flood Insurance Program(NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree t...
Communities participating in the program are taking the initiative to protect their citizens and their property. In most cases, these communities are also paying the 25% cost share for the project or plan. Another consideration is that for a program that has been criticized for its pace of ...
L. A. Stevens & Associates, Inc. personnel completed multiple workshops sponsored by FEMA and Marin County addressingFEMAregulations pertaining to Special Flood Hazard Areas (SFHAs), National Flood Insurance Program (NFIP) requirements, and FEMA Elevation Certificates.FEMA states,“Communities participat...