Regulacje i polityka gospodarcza · 15.11.1994

National Flood Insurance Program; Insurance Coverage and Rates

This proposed rule would amend the National Flood Insurance Program (NFIP) regulations to increase the waiting period before which flood insurance coverage becomes effective under the Standard Flood Insurance Policy and to increase the limits of coverage available under the NFIP. This proposed rule is necessary to comply with the waiting period requirement and maximum flood insurance coverage amounts established by the National Flood Insurance Reform Act of 1994 (Title V of Pub. L. 103-325). The intended effect of this proposed rule is to establish a 30-day waiting period, with certain exceptions, before which flood insurance coverage becomes effective under the Standard Flood Insurance Policy and to provide higher limits of flood insurance coverage to current and new policyholders. In this proposed rule, FEMA is also requesting comments regarding a study it is conducting on the waiting period as required by section 579 of the National Flood Insurance Reform Act of 1994.