§4027a Report of the Administrator on activities under the National Flood Insurance Program

Summary

The Administrator must send a full annual report to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services. The report covers the previous 12 months and must be sent no later than 3 months after the end of each fiscal year. The report must describe the National Flood Insurance Fund’s financial condition and income, including premiums, claims, and administration costs; the number and face value of policies in force; losses from repetitive-loss structures; losses from hurricane and non-hurricane events; amounts made available under section 4104c(c)(4) to buy substantially flood-damaged properties, how many properties were bought, and the total cost; the Administrator’s estimate of an average historical loss year and how that estimate was made; the estimate of maximum claims in a catastrophic year; average insurance amount, premium, and loss per policy; and the number and total excess of claims that exceed the program’s maximum coverage.