Flood Insurance Reform Act of 2012

In 2012, Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 (“Act”) which requires FEMA, as well as other agencies, to change the way the National Flood Insurance Programs (“NFIP”) is run. The Act was designed to reduce the NFIP’s growing debt. Key provisions of the legislation require the NFIP to raise rates to reflect true flood risk, make the program financially stable, and modify how Flood Insurance Rate Map updates impact policyholders. Unfortunately these legislative changes will more likely than not mean increased premiums for some which could affect home values in flood zones around the country. To understand more about the legislative changes and how you (or your clients are affected) please click on the link below:

FEMA Link: Changing Risks > Changing Rates 

As always, should you have any questions in regards to the foregoing, please consult with your local real estate attorney.


Berlin-Patten, PLLC

This communication is not intended to establish an attorney client relationship, and to the extent anything contained herein could be construed as legal advice or guidance, you are strongly encouraged to consult with your own attorney before relying upon any information contained herein.

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