42 U.S.C. § 4011 : US Code - Section 4011: Authorization to establish and carry out program

Search 42 U.S.C. § 4011 : US Code - Section 4011: Authorization to establish and carry out program

(a) Authorization and establishment
To carry out the purposes of this chapter, the Director of the
Federal Emergency Management Agency is authorized to establish and
carry out a national flood insurance program which will enable
interested persons to purchase insurance against loss resulting
from physical damage to or loss of real property or personal
property related thereto arising from any flood occurring in the
United States.
(b) Additional coverage for compliance with land use and control
measures
The national flood insurance program established pursuant to
subsection (a) of this section shall enable the purchase of
insurance to cover the cost of implementing measures that are
consistent with land use and control measures established by the
community under section 4102 of this title for -
(1) properties that are repetitive loss structures;
(2) properties that are substantially damaged structures;
(3) properties that have sustained flood damage on multiple
occasions, if the Director determines that it is cost-effective
and in the best interests of the National Flood Insurance Fund to
require the implementation of such measures; and
(4) properties for which an offer of mitigation assistance is
made under -
(A) section 4104c of this title (Flood Mitigation Assistance
Program);
(B) section 1368 (!1) (Repetitive Loss Priority Program and
Individual Priority Property Program);
(C) the Hazard Mitigation Grant Program authorized under
section 5170c of this title;
(D) the Predisaster Hazard Mitigation Program under section
5133 of this title; and
(E) any programs authorized or for which funds are
appropriated to address any unmet needs or for which
supplemental funds are made available.
The Director shall impose a surcharge on each insured of not more
than $75 per policy to provide cost of compliance coverage in
accordance with the provisions of this subsection.
(c) Participation and risk sharing by insurers
In carrying out the flood insurance program the Director shall,
to the maximum extent practicable, encourage and arrange for -
(1) appropriate financial participation and risk sharing in the
program by insurance companies and other insurers, and
(2) other appropriate participation, on other than a risk-
sharing basis, by insurance companies and other insurers,
insurance agents and brokers, and insurance adjustment
organizations,
in accordance with the provisions of subchapter II of this chapter.