National Flood Insurance Program

Latest News
3:28 pm
Fri March 21, 2014

President Obama Signs Flood Insurance Relief Bill Into Law

Homeowners living in flood-prone areas will get relief from skyrocketing flood insurance rates, under the new law.
Gary Nichols U.S. Navy

President Barack Obama has signed a new law that will give hundreds of thousands of homeowners living in flood-prone areas relief from big jumps in insurance costs.

Lawmakers from both parties supported the measure in response to angry homeowners who faced sharp premium hikes after an overhaul of the government's flood insurance program two years ago.

Flood Insurance
7:18 pm
Wed March 5, 2014

House Approves Measure To Ease Flood Insurance Hikes

Originally published on Wed March 5, 2014 8:17 am

Transcript

LINDA WERTHEIMER, HOST:

The House overwhelmingly passed legislation last night to undo flood insurance reform that Congress passed less than two years ago. When homeowners started calling lawmakers about sharp premium hikes, both chambers moved swiftly to ease the pain.

NPR's Ailsa Chang reports.

AILSA CHNAG, BYLINE: In 2012, Democrat Maxine Waters of California put her name on a bill that was meant to help the National Flood Insurance Program dig itself out of huge debt. Last night, she said she made a big mistake.

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Coastal News
2:26 am
Thu February 27, 2014

FEMA Flood Insurance Law Faces Partial Repeal Over Premiums

Levees, like this one in New Orleans, must be certified by the U.S. Army Corps of Engineers before appearing on federal flood maps. This change has resulted in higher flood insurance premiums in some areas.
Mario Tama Getty Images

Originally published on Thu February 27, 2014 9:38 am

The House is expected to vote as early as next week to partially repeal a 2012 law that overhauled the National Flood Insurance Program, which is tens of billions of dollars in debt.

The law was meant to make people living in flood-prone areas foot more of the insurance bill. But lawmakers didn't realize how many homeowners would be affected — or how hard they'd be hit.

You can find some of those homeowners in Bayou Gauche, about 30 miles west of New Orleans.

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Planet Money
2:35 am
Thu January 24, 2013

Why Is The Government In The Flood Insurance Business?

Hurricane Betsy hit the Gulf Coast in 1965.
Horace Cort AP

Originally published on Thu January 24, 2013 12:19 pm

There's a quick, one-word explanation for why the federal government started selling flood insurance: Betsy.

Hurricane Betsy, which struck the Gulf Coast in 1965, became known as billion-dollar Betsy. Homes were ruined. Water up to the roofs. People paddling around streets in boats. Massive damage.

This would be the time when you'd expect people to be pulling out their flood insurance policies. But flood insurance was hard to come by. You could get fire insurance, theft insurance, car insurance, life insurance. Not flood.

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Flood Insurance
10:53 am
Fri April 27, 2012

Vitter Pushes to Extend Flood Insurance Program

NEW ORLEANS (AP) — U.S. Sen. David Vitter is pushing for a long-term extension of the National Flood Insurance Program.

The Louisiana Republican wants to stop extending the program with short-term extensions. The insurance program, which provides help for people who are flooded, hasn't been fully reauthorized since 2004. The program is slated to expire at the end of May unless it is extended.

A bill sponsored by Vitter to extend the flood insurance program through 2016 is awaiting a vote before the full Senate.