The impact of newer, actuarially sound National Flood Insurance Program rates will mostly be felt by lower- and moderate-income homeowners, and the new rates will not pay off the program’s debts, a FEMA official said today.

In a wide-ranging briefing on the Biggert-Waters Act—the law that extended the NFIP for five years—Edward Connor, deputy associate administrator for the Federal Insurance and Mitigation Administration, the FEMA sub-agency that manages the NFIP, estimated that only 1.1 million of the 5.5 million homes in the NFIP will be affected by the phase-out of subsidized rates over four years mandated by the new law.


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