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The purpose of the National Flood Insurance Reform Act of 1994 is to improve the financial condition of the NFIP and reduce federal expenditures for disaster assistance to flood-damaged properties. The act affects every part of NFIP, insurance, mapping and floodplain management. NFIRA also gives lenders tools with which to enforce requirements for flood insurance coverage mandated under the Flood Disaster Protection Act of 1973.
- Browse Related Terms: act, Community, Community Rating System (CRS), Emergency Program, Federal Emergency Management Agency (FEMA), Floodplain Management, Mitigation Division, National Flood Insurance Program (NFIP), National Flood Insurance Reform Act (NFIRA), Participating Community, Regular Program