Run Time: 20:23

Now What’s Happening with the Flood Insurance Program?

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In 2012, Congress passed the bipartisan Biggert-Waters Flood Insurance Reform Act to reform the National Flood Insurance Program. Th Biggert-Waters law began a phase-out of certain premium subsidies and an extensive rewriting of flood maps. But when implementation of these reforms resulted in sizable premium increases for tens of thousands of coastal property owners, constituents complained and Congress listened. This past March, Congress rolled back some of the premium hikes and reinstated some of the subsidies when it passed the Homeowners Flood Insurance Affordability Act. In this interview Ann Myhr, senior director of Knowledge Resources at The Institutes, discusses the latest round of legislative changes and what's ahead for the flood insurance program. To start, Andrew Simpson asked Myhr to review the origins of the flood program as well as what has NOT changed.

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