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The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 (P.L. 90-448). The NFIP has two purposes: to share the risk of flood losses through flood insurance and to reduce flood damages by restricting floodplain development.
Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and other areas that are susceptible to flooding. [1]
The U.S. economy grew by an average of 3.8% from 1946 to 1973, while real median household income surged by 74% (or 2.1% a year). [106] [107] Since the 1970s, several emerging countries have begun to close the economic gap with the United States. In most cases, this has been due to moving the manufacture of goods formerly made in the U.S. to ...
U.S. property owners report around $20 billion in water-related damage each year. Luckily, homeowners insurance helps cover a wide range of misfortunes, including some types of water damage. But ...
Insurance, generally, is a contract in which the insurer agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). [2]
BLS data published Tuesday showed that motor vehicle maintenance and repair costs in U.S. cities increased 6.2% last month compared to a year earlier, outpacing inflation's year-over-year increase ...
The US economy is on the verge of an extremely rare achievement. Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second ...
Most frequently, the term "inflation" refers to a rise in a broad price index representing the overall price level for goods and services in the economy. The consumer price index (CPI), the personal consumption expenditures price index (PCEPI) and the GDP deflator are some examples of broad price indices.