Organizations Involved: Environmental Defense Fund
Source: Environmental Defense Fund
Abstract
The Federal Emergency Management Program (FEMA) proposed a rule to revise the Standard Flood Insurance Policy (SFIP) under the National Flood Insurance Program. The proposed reforms take important steps to: 1) increase transparency and clarity for policyholders; 2) build resilience through investment in flood mitigation; 3) expand coverage options; and 4) address existing confusion around actual cash value versus replacement cost coverage.
These comments were submitted to FEMA in response to the request for comments concerning its proposal. Overall, EDF commends FEMA on these proposed changes and look forward to working with the agency on continued improvements to the NFIP. FEMA’s proposed SFIP changes are a crucial step towards making flood insurance more accessible for U.S. households.
