NFIP Re-Authorization and the Future of Flood Insurance

"'At this time, one can only guess what the NFIP re-authorization will include, but it is likely that the legislation will include provisions to remove perceived barriers to sale of private flood coverage and may include incentives for increased private sales,' said Leonard Shabman, resident scholar at Resources for the Future. 'For the next several years, the NFIP will continue to provide most primary flood coverage even if there is some increase in coverage offered by the private sector,' he added. 'Other federal roles such as flood risk mapping, mitigation grants and emergency relief, that directly or indirectly affect both the NFIP and private coverage, will continue. New federal roles in assuring premium affordability and risk sharing with the private sector are likely to develop."