What does NFIP stand for?

The National Flood Insurance Program, commonly abbreviated as NFIP, is a program administered by FEMA that aims to provide affordable flood insurance to property owners, renters, and businesses. This program also promotes floodplain management practices for communities. Established in 1968, the NFIP was created to offer protection against flood-related damages, benefiting both individuals and the broader economic stability of regions prone to flooding.

The NFIP enables communities to participate in a system where they can purchase flood insurance if they agree to adopt and enforce floodplain management regulations. These regulations help reduce flood risk and promote responsible development in flood-prone areas. Understanding the role and purpose of the NFIP is essential for grasping how federal programs address natural disaster risks, particularly floods, which are among the most common and widespread disasters in the United States.