Association of State Flood Plain Managers Association of State Flood Plain Managers
Upcoming Events
Association of State Flood Plain Managers

What's New
Association of State Flood Plain Managers

Association of State Flood Plain Managers Association of State Flood Plain Managers
Association of State Flood Plain Managers

Share

What's New

<< Back to News List            ASFPM has just added a seventh technical report >>

Tying Flood Insurance to Flood Risk for Low-lying Structures in the Floodplains
Monday, June 22, 2015

Download "Tying Flood Insurance to Flood Risk for Low-lying Structures in Floodplains" here.


Authors



Description

Floods take a heavy toll on society, costing lives, damaging buildings and property, disrupting livelihoods, and sometimes necessitating federal disaster relief, which has risen to record levels in recent years. The National Flood Insurance Program (NFIP) was created in 1968 to reduce the flood risk to individuals and their reliance on federal disaster relief by making federal flood insurance available to residents and businesses if their community adopted floodplain management ordinances and minimum standards for new construction in flood prone areas. Insurance rates for structures built after a flood plain map was adopted by the community were intended to reflect the actual risk of flooding, taking into account the likelihood of inundation, the elevation of the structure, and the relationship of inundation to damage to the structure. Today, rates are subsidized for one-fifth of the NFIP's 5.5 million policies. Most of these structures are negatively elevated, that is, the elevation of the lowest floor is lower than the NFIP construction standard. Compared to structures built above the base flood elevation, negatively elevated structures are more likely to incur a loss because they are inundated more frequently, and the depths and durations of inundation are greater.






Association of State Flood Plain Managers
575 D'Onofrio Drive, Suite 200  |  Madison, WI 53719  |  Phone: 608-828-3000  |  Fax: 608-828-6319  |  Email Us

Terms and Conditions  |  Site Map  |  Contact Us
Association of State Floodplain Managers ®  Copyright © . All Rights Reserved.