This video presents an overview of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12). It relates the current changes to the original 1968 Act and subsequent reforms enacted by Congress over the past 45 years. The main goals of BW12 are discussed as well as specific changes taking place in 2013. Finally, the future impact of the legislation is introduced.
FULL VERSION (18:56)
Or watch the video in three parts…
Getting to Know Flood Reform – Part 1 of 3 (8:43)
Part 1 introduces the NFIP – the Program’s history and how it operates. It covers previous reforms enacted by Congress and how modifications have changed the NFIP.
Getting to Know Flood Reform – Part 2 of 3 (6:53)
Comments from David Miller, Associate Administrator for Federal Insurance and Mitigation, open a review of Biggert-Waters. The basic goals of the legislation are discussed, including the Congressional goal of making the NFIP financially sound.
Getting to Know Flood Reform – Part 3 of 3 (4:06)
Future changes to the NFIP as indicated in Biggert-Waters are addressed, including areas of the Act of interest to Agents, Lenders and Policyholders.
The National Flood Insurance Program is administered by the Federal Emergency Management Agency (FEMA), a component of the U.S. Department of Homeland Security