Community Accountability for Repeatedly Flooded Areas: New Flood Insurance Rules.
New rules aim to increase community responsibility for areas frequently affected by floods. Communities will need to develop flood risk reduction plans, which may impact property safety and insurance premiums for residents. Failure to act could result in sanctions, including suspension from the flood insurance program.
Key points
Communities with repeatedly flooded areas must identify these locations and assess flood risks.
Developing and implementing flood risk reduction plans, which will be publicly available, is required.
Communities failing to comply or make sufficient progress may face suspension from the national flood insurance program.
Residents may benefit from increased safety and potentially lower insurance costs due due to community prevention efforts.
Introduced
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