National Flood Insurance Program
Federal laws require that apartment owners with federally regulated and insured mortgages on properties in high-risk flood areas purchase flood insurance. However, the private insurance market offers few policy options, often only issuing flood protection policies to high-value properties. To help fill this void, the federal government created the National Flood Insurance Program (NFIP). Read our Issue Fact Sheet.
More information on national flood insurance program, in addition to the NMHC/NAA viewpoint.Read More
NMHC calls on lawmakers to enact reforms to improve the multifamily and commercial lines of the National Flood Insurance Program (NFIP) ahead of long-term reauthorization.Read More
FEMA releases details outlining the implementation for its Risk Rating 2.0 program intended to modernize the National Flood Insurance Program (NFIP).Read More
NMHC and NAA have partnered to host a policy briefing for members to learn first-hand from agency representatives about the rationale for the update as well as the process and tools used to modernize the rating system. FEMA representatives will also provide an overview of the phased approach to rolling out the new rates, set to take effect on October 1, 2021, for any new NFIP policy issued and for those renewing on or after April 1, 2022.