Maintain the best features of Biggert-Waters

The 2012 Biggert-Waters Flood Insurance Reform Act (BW12) is a bold step by Congress to reform the federally run National Flood Insurance Program (NFIP). At a time when Congress was criticized for inaction, BW12 offered a counter-example: the bipartisan legislation which was based on several years of discussions on Capitol Hill, Congressional hearings, public debate across the country and detailed empirical analysis of the NFIP would ultimately help America become more resilient to future floods.
At its core, BW12 embodies two basic principles: one related to insurancepremiums should reflect the risk associated with future flood damageand the other reflecting public policy concernsthe government should take steps to address affordability issues if premium increases create financial hardship for some residents in flood-prone areas.