Affordability of National Flood Insurance Program Premiums Report 1 (2015) / Chapter Skim
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8 Future Work
8 Future Work
Pages 119-122
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From page 119... ...
further emphasized the interest of Congress in having FEMA submit concepts for an affordability framework, and added time and resources to support the national affordability study called for in Section 100236 of BW 2012. This is the first of two reports from the National Research Council Committee on the Affordability of National Flood Insurance Program Premiums.
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From page 120... ...
One example of an affordability policy option is the combination of NFIP riskbased premiums for all, with means-tested vouchers for premium assistance funded by surcharges on all policies. Another example is the combination of NFIP risk-based premiums for all, with means-tested mitigation grants funded by general federal revenues for the most cost-effective (premium reducing)
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From page 121... ...
Evaluation objectives will include the following: • The number of households subject to mandatory insurance purchase and are cost burdened by paying NFIP risk-based premiums • The total of NFIP premiums and surcharges less claims paid and administration costs for a specified period (net program revenue) • Total federal outlays for payments to cover NFIP net revenue "short fall," for premium assistance, for federal share of mitigation cost, and for post-flood aid for a specified period • Number of policies in force (takeup rate)
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