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#### 2 NFIP Procedures for Analyzing Flood Hazard and Calculating Insurance Rates Pages 15-22

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 From page 15...... , engineers carry out hydrologic and which are illustrated in Figure 2.1: hydraulic analyses to describe flood hazard, calculate flood elevations, delineate floodplain bound- 1. Hydrologic analyses are conducted to estimate aries, and designate flood zones for insurance rating. Read the entire page → From page 16...... . flow patterns are more spatially variable, a two dimensional hydraulic model is used to compute The same process is followed for the 0.2 percent the maximum water surface elevation for cells or annual chance exceedance flood and delineation of the polygons that represent the channel and flood- moderate flood hazard area. Read the entire page → From page 17...... NFIP INSURANCE RATES Because detailed hydraulic analyses are not performed, base flood elevations are generally not determined in The National Flood Insurance Act of 1968 estabapproximate studies. lished two broad categories of insurance rates for the NFIP:2 Flood Insurance Rate Maps 1. Read the entire page → From page 18...... are credited as protecting areas from the 1 percent annual chance exceedance flood. Diagonal lines show where cross sections were taken. Read the entire page → From page 19...... AR Areas that result from the decertification of a previously accredited flood protection system that is determined to be in the process of being restored to provide base flood protection. A99 Areas subject to inundation by the 1 percent annual chance exceedance flood, but which will ultimately be protected upon completion of an under-construction federal flood protection system. Read the entire page → From page 20...... , resulting from that level of flood water DELVi is the average damage within a certain depth interval corresponding to PELVi Min is the minimum elevation relative to the lowest floor at which flood damage occurs Max is the elevation relative to the lowest floor at which flood damage approaches a maximum LADJ is a loading factor to account for loss adjustment expenses DED is a factor to eliminate that portion of the loss that will be borne by the policyholder through his or her deductible UINS is a factor to adjust for how much a policyholder has underinsured his or her property EXLOSS is the expected loss ratio, which serves as a loading for underwriting expenses, a contingency factor, and other factors SOURCE: FEMA (2013d) Read the entire page → From page 21...... The hydrologic method is used to determine Subsidized rates for structures that are not primary risk-based rates in Special Flood Hazard Area zones, residences or that suffer severe repetitive losses are where the most detailed engineering studies are carried beginning to be phased out (see "National Flood Insurout and base flood elevations are established. About ance Program" in Chapter 1) Read the entire page → From page 22...... The following chapters examine the terms in the are more than 1 foot below the base flood elevation in actuarial rate formula in more detail, and discuss how an AE zone or more than 3 feet below the base flood they can be adjusted to develop fair and credible rates elevation in a VE zone receive a more detailed review for negatively elevated structures. Read the entire page →

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