NU Online News Service, June 10, 2:54 p.m. EDT
WASHINGTON—Federal flood-management officials are considering whether to base National Flood Insurance Program (NFIP) premiums on community-mitigation efforts—a departure from current practice.
Craig Fugate, administrator of the Federal Emergency Management Agency, which manages the NFIP, disclosed in testimony Thursday before the Senate Banking Committee that the agency is considering incentivizing mitigation efforts as a means of cutting the cost of the NFIP.
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