The Biggert-Waters Act and the Federal Flood Risk Management Standard
Wed. 11:00 a.m. to 12:30 p.m., Centennial E
The Biggert-Waters Flood Insurance Reform Act of 2012, which sought to move the nation toward risk-based flood insurance pricing, was among the most controversial pieces of legislation passed in recent years. The law was subsequently repealed, in large measure because it triggered insurance rate escalations that were unacceptable to the public. The Federal Flood Risk Management Standard, an outgrowth of the President’s Climate Action Plan, represents another effort to promote risk-wise behavior on the part of communities and property owners. Participants in this session will discuss lessons learned from the Biggert-Waters case and comment on what the new standard seeks to accomplish.
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