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In July, FEMA Released a Two-page Fact Sheet called, “Flood Insurance for Business: Impacts of Recent Legislation”
The NFIP is in the process of implementing reforms required by the Homeowner Flood Insurance Affordability Act of 2014 and the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). The 2014 law repeals or modifies some provisions of Biggert-Waters. However, it maintains the requirement that flood insurance rates for business properties in high-risk areas reflect…

