100RC - Strengthening the National Flood Insurance Program

Developed in collaboration with the Georgetown Climate Center, this 100 Resilient Cities (100RC) network report recommends ways to enhance urban resilience with reforms to the National Flood Insurance Program (NFIP). The policy proposals offered here describe “how Congress could create a fiscally sound NFIP that provides affordable and actuarially responsible flood insurance and promotes proactive city-level actions to reduce flood losses.”

NFIP is designed to provide cities with incentives for enhanced flood resilience, and to support recovery and rebuilding. However, the report describes that NFIP is drastically in need of reform: as of July 2017, the program is more than $24 billion in debt; insurance rates are rising forcing people out of coverage; outdated floodplain maps fail to adequately reflect changing flood risks; and cities do not have the resources to mitigate their flood risks. The program must be reauthorized by Congress by December 2017.

The policy recommendations described aim to ensure that changes to the NFIP help to:

  • Ensure the affordability of insurance for lower-income homeowners;
  • Provide cities with funding to invest in reducing flood risks;
  • Provide cities with data and information about changing flood risks needed to make informed decisions about how to adapt; and
  • Enhance the number of residents and businesses purchasing coverage.

 

Publication Date: November 7, 2017

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