November 7, 2024 / Source: FEMA

AGENCY:

Federal Emergency Management Agency, Department of Homeland Security (DHS).

ACTION:

Final rule.

SUMMARY:

The National Flood Insurance Program (NFIP) is a voluntary program in which interested persons can purchase flood insurance for their property, if it is located in a community that participates in the NFIP by adopting and enforcing a set of minimum floodplain management requirements to reduce future flood damages. FEMA is revising the NFIP’s regulations to offer NFIP policyholders the option of paying their annual flood insurance premium in monthly installments.

DATES:

This rule is effective December 31, 2024.