The West Virginia insurance commissioner is reminding all state and local governments and non-profit organizations that they could face penalties if they fail to obtain flood insurance on properties in flood hazard areas.
“Please review your eligibility for the NFIP (the National Flood Insurance Program),” reads the bulletin from Commissioner Allan McVay. “Penalties in the form of reductions in Federal Emergency Management Agency (FEMA) relief funds are possible for entities that fail to purchase adequate flood insurance on all property located in identified flood zones.”
The 1988 amendments to the federal Robert Stafford Emergency Assistance and Disaster Relief Act require the flood insurance. Governments and organizations can see if their properties are in a floodplain: Flood maps are available at the FEMA website and NFIP can be reached at 800-358-9616.
Related: Would a Trump Administration End NFIP?
Topics Profit Loss Flood
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