SmarterSafer: National flood insurance program reform proposal, February 2017

This document provides recommendations for reforms to the US National Flood Insurance Program (NFIP), which provides critical insurance coverage to those at risk. The document highlights that the program must be reauthorized and reformed to ensure it is financially sustainable, that there are sufficient incentives for reducing future flood damages and vulnerabilities, that it provides better protection for taxpayers who have repeatedly backstopped the program, and that it better protects the environment and promotes the use of nature-based mitigation solutions.

The document recommends that a reauthorization of the NFIP by the US Congress should prioritize the following:

• More accurate mapping
• Risk-based rates with support for reducing risk
• Focus on resilience
• Private sector participation and consumer choice
• Increased flood insurance purchase
• Environmental and other actions to reduce risk