FEMA Withdraws Flood Insurance NPRM

It would have required owners of structures that have sustained multiple flood losses to pay a higher premium if they declined an offer of funding to eliminate or reduce future flood damage.

More than 12 years after publishing a Notice of Proposed Rulemaking (NPRM) to address the problem of multiple flood losses to older structures, FEMA on May 30, 2012, finally withdrew it, saying a 2004 federal law and a 2009 final rule superseded it.

The law, named the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004, accomplished the same thing: It authorizes increases to the flood insurance premium rates for building owners with repetitive losses who decline offers of mitigation funding.

The NPRM proposal defined "target repetitive loss buildings" as ones with four or more losses or with two or more flood losses cumulatively higher than the building's value. Although this new FEMA notice says correcting the problem of multiple flood losses to older structures is one of its highest priorities, it doesn't explain why the NPRM remained on hold for so many years. The notice says it attracted only seven comments -– some in favor, some saying the proposal might harm the mortgage industry, and one saying it would be economically harmful to homeowners who suffer flood damage through no fault of their own.

Many buildings erected before their communities' Flood Insurance Rate Maps were published are at greater risk because they were built before full flood risk information was available, according to the notice, which says FEMA actuarial studies have shown that owners of National Flood Insurance Program-insured buildings that repetitively flood are not charged premiums that truly reflect the risk.

Download Center

HTML - No Current Item Deck
  • Free Safety Management Software Demo

    IndustrySafe Safety Management Software helps organizations to improve safety by providing a comprehensive toolset of software modules to help businesses identify trouble spots; reduce claims, lost days, OSHA fines; and more.

  • Track Key Safety Performance Indicators

    IndustrySafe’s Dashboard Module allows organizations to easily track safety KPIs and metrics. Gain increased visibility into your business’ operations and safety data.

  • Analyze Incident Data

    Collect relevant incident data, analyze trends, and generate accurate regulatory reports, including OSHA 300, 300A, and 301 logs, through IndustrySafe’s extensive incident reporting and investigation module.

  • Safety Training 101

    When it comes to safety training, no matter the industry, there are always questions regarding requirements and certifications. We’ve put together a guide on key safety training topics, requirements for certifications, and answers to common training questions.

  • Conduct EHS Inspections and Audits

    Record and manage your organization’s inspection data with IndustrySafe’s Inspections module. IndustrySafe’s pre-built forms and checklists may be used as is, or can be customized to better suit the needs of your organization.

  • Industry Safe
comments powered by Disqus

OH&S Digital Edition

  • OHS Magazine Digital Edition - April 2019

    April 2019

    Featuring:

    • ELECTRICAL SAFETY
      Taking the Guesswork Out of De-Energizing Industrial Equipment 
    • VISION PROTECTION
      Four Simple and Effective Ways to Avoid Digital Eye Strain
    • FOOT PROTECTION
      PPE the Automotive Industry Needs to Invest In
    • FIRE SAFETY
      Eliminate 10 Fire Hazards That May Be in Plain Sight
    View This Issue