[1] The NFIP goals are two-fold: • To provide flood insurance for structures and contents in communities that adopt and enforce an ordinance outlining minimal floodplain management standards.
The CBRA enacted a set of maps depicting the John H. Chafee Coastal Barrier Resources System (CBRS) in which federal flood insurance is unavailable for new or significantly improved structures.
More specifically, FIRA authorized FEMA to offer assistance in the buyout of Severe Repetitive Loss Properties to willing sellers and impose premium hikes on those that refused.
The Biggert–Waters Flood Insurance Reform Act of 2012 was "designed to allow premiums to rise to reflect the true risk of living in high-flood areas.
[6] The National Flood Insurance Program is currently $24 billion in debt and taxpayers will be forced to pay for any additional payouts until that situation is solved.
"[7] Stephen Ellis, of the group Taxpayers for Common Sense, points to "properties that flooded 17 or 18 times that were still covered under the federal insurance program" without premiums going up.