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<br />roREW:>RD <br /> <br />. Ninety percent of the natural disasters in this country are flood related. <br />. These oosts have oontinued to escalate dramatically with the increasing <br />developnent of flood plain areas. While man has always tended to locate <br />! near the water's edge, this tendency becorres a major problem as buildings <br />rapidly spring up along the beaches and rivers of our nation. <br /> <br />This study, which tests the hypothesis that adoption of flood plain <br />managerrent regulations can reduce flood losses and generally benefit the <br />camn.mities practicing effective land use management, points out that <br />through the adoption of flood plain managerrent regulations we can <br />dramatically reduce the =rent costs of flood disasters and relief and <br />stop the escalating price that this nation is paying. It is a warning <br />that must be heeded if property and lives are to be saved. <br /> <br />While this study does not specifically discuss the Federal Insurance <br />Administration or the National Flood Insurance Program, it does indicate <br />that the basic premise of that program - that effective flood plain <br />management can reduce the high oost of flood hazard losses -- is valid. <br />This was the premise upon which Congress based the National Flood <br />Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as <br />amended. As a requirement for qualifying for flood insurance protection, <br />, a ccmnunity must adopt and enforce effective flood plain management <br />regulations to safeguard their citizens and reduce future flood losses. <br />This quid pro quo was built into the program as a neans of encouraging <br />State and local goverrnnents to manage their flood plain areas in ways that <br />will protect as well as add to the well-being of their citizens. <br /> <br />! In irrplerrenting the National Flood Insurance Program, the Federal Insurance <br />Administration has worked to infonn local cannunities of the flood hazards <br />in their respective regions and advise local officials of the minimal <br />protective safeguards required. FIA has been accelerating its work with <br />ccmnunities taking steps to reduce their vulnerability to flood hazards. <br />When flood losses 00=, despite mitigation efforts, FIA's flood insurance <br />I policies can provide e<XlI1C1nic recovery for those families and businesses <br />that experience losses. Mitigation of these hazards and develqrnent of an <br />actuarially sound insurance program are Wa:lS in which the Federal govern- <br />nent is helping to reduce the national flood disaster and relief oosts. <br /> <br />4'~~ <br /> <br />Acting Administrator <br />Federal Insurance Administration <br />