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NFIP |
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While a financially stable NFIP is in all of our interests, the steps that Congress takes to achieve this aim have the potential to greatly impact housing affordability and the ability of local communities to exercise control over their growth and development. The NFIP is a federal program that allows property owners in participating communities to purchase insurance as a protection against flood losses in exchange for adopting and enforcing floodplain management regulations to reduce future flood damages. As of 2004, the NFIP had issued more than 4-4 million flood insurance policies in approximately 20,000 communities nationwide, representing nearly $637 billion in coverage. |
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