A Levee Policy for the National Flood Insurance Program (1982) / Chapter Skim
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'APPENDIX A: GLOSSARY'
'APPENDIX A: GLOSSARY'
Pages 75-79
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From page 75... ...
ACTUARIAL INSURANCE RATES -- insurance rates that fulfill the financial need in risk transfer, are responsive to competitive market conditions, improve the availability and reliability of insurance, and result in insurance premium charges that are not excessive, inadequate, unfairly discriminatory, or otherwise unreasonable. AVERAGE ANNUAL FLOOD DAMAGE -- the average flood damage one could expect over a period of many years should neither flood hazard nor floodplain occupancy change nor inflation occur.
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From page 76... ...
FIA -- "Federal Insurance Administration," a unit within the Federal Emergency Management Agency responsible for the administration of the insurance operations aspects of the National Flood Insurance Program as defined under the National Flood Insurance Act of 1968. FLOOD -- an overflow from a normal water course onto adjacent land not normally covered by water or a hydrologic event contained within levees but having discharges or stages higher than normally occur.
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From page 77... ...
FLOODWALL -- a concrete wall constructed adjacent to a stream for the purpose of preventing flooding of property on the landside of the wall; normally constructed in lieu of or to supplement a levee where the land required for levee construction is more expensive or not available. FLOODWAY -- the regular channel of a river or stream plus any adjacent floodplain areas that must be kept free of encroachment in order that the 100-year flood can be carried without substantial increase in height or the introduction of hazardous velocities.
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From page 78... ...
MAP, FLOOD BOUNDARY AND FLOODWAY -- a map prepared for the purpose of floodplain management showing flood and floodway boundaries curvilinearly. NATIONAL FLOOD INSURANCE PROGRAM -- The program, created by the National Flood Insurance Act of 1968 as amended, and further defined by the Flood Disaster Protection Act of 1973, as amended, under which communities may be eligible for federally subsidized flood insurance on the condition that the communities enact satisfactory floodplain management regulations.
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From page 79... ...
-- those rates established by the Federal Insurance Administrator pursuant to individual community flood risk studies undertaken to provide flood insurance in accordance with Section 1307 of the National Flood Insurance Act of 1968 and accepted actuarial principles. Risk Premium Rates include provisions for operating costs and allowances.
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