The NFIP: There for You
For over 50 years the National Flood Insurance Program (NFIP) has played a key role in helping Americans protect the lives they’ve built from floods. The program is a critical and dependable resource for homeowners and businesses nationwide. It plays that role by identifying flood risks and providing insurance coverage.
The NFIP was created by Congress in 1968 to reduce the socio-economic impact of flooding, as a response to the growing need for flood insurance. Back then, many insurance policies were unavailable or unaffordable due to the high risk of flooding. The NFIP’s focus has always been on reducing the financial burden and helping people be resilient in the face of flooding.
Your clients can rest assured that the line isn’t drawn at a policy alone. The program has several key objectives:
- Providing flood insurance,
- Encouraging floodplain management and
- Reducing flood losses through mitigation efforts.
The NFIP encourages communities to reduce their risk by enforcing floodplain management measures. These measures minimize future flood damage to new construction. The NFIP also educates and provides resources for insurance agents to best serve their clients.
Over the years, the NFIP has grown and developed with the times. It has evolved to focus on increasing public awareness about flood risks and insurance coverage. By helping people understand their flood risk, the NFIP helps them make informed decisions about their coverage. The NFIP provides an essential service by offering flood insurance to all Americans. This is critically important in areas where private insurers are hesitant to provide coverage.
The NFIP continues to promote resilience across the nation by ensuring Americans can get flood insurance. Despite frequent and worsening storms, the NFIP offers insurance to Americans to protect the lives they've built. The program is continually evolving to reflect changing risk and enhance its effectiveness. The NFIP is a crucial partner in accurately assessing flood risks and helping people rebuild after a flood.
