National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of FY 2015 Arrangement, 50688 [2014-20068]

Download as PDF 50688 Federal Register / Vol. 79, No. 164 / Monday, August 25, 2014 / Notices DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Docket ID FEMA–2014–0026] National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers, Availability of FY 2015 Arrangement Federal Emergency Management Agency, DHS. ACTION: Notice. AGENCY: Each year, the Federal Emergency Management Agency (FEMA) is required by the Write-YourOwn (WYO) Program Financial Assistance/Subsidy Arrangement (Arrangement) to notify private insurance companies (Companies) and to make available to the Companies the terms for subscription or re-subscription to the Arrangement. In keeping with that requirement, this notice provides the terms to the Companies to subscribe or re-subscribe to the Arrangement. FOR FURTHER INFORMATION CONTACT: Edward L. Connor, Deputy Associate Administrator for Federal Insurance, Federal Insurance and Mitigation Administration, DHS/FEMA, 1800 South Bell Street, Room 720, Arlington, VA 20598–3020, 202–646–3429 (phone), 202–646–3445 (facsimile), or Edward.Connor@fema.dhs.gov (email). SUPPLEMENTARY INFORMATION: Under the Write-Your-Own (WYO) Program Financial Assistance/Subsidy Arrangement (Arrangement), 82 (as of August 2014) private sector property insurers sell flood insurance policies and adjust flood insurance claims under their own names based on an Arrangement with the Federal Insurance and Mitigation Administration (FIMA) published at 44 CFR Part 62, Appendix A. The WYO insurers retain an expense allowance and remit the remaining premium to the Federal Government. The WYO insurers pay flood losses and pay loss adjustment expenses based on a fee schedule through the regulated access of federal funds. In addition, under certain circumstances reimbursement for litigation costs, including court costs, attorney fees, judgments, and settlements, are paid by FEMA based on documentation submitted by the WYO insurers. The complete Arrangement is published in 44 CFR Part 62, Appendix A. Each year, FEMA is required to publish in the Federal Register and make available to the Companies the emcdonald on DSK67QTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:31 Aug 22, 2014 Jkt 232001 terms for subscription or re-subscription to the Arrangement. 44 CFR Part 62, Appendix A, Article V.B. Signatory Companies should remain aware that all requirements of the Arrangement, including, but not limited to, financial accounting in issues involving all transactions, must be met. As set forth in Article II.A.1. of Appendix A to Part 62—Federal Emergency Management Agency, Federal Insurance Administration, Financial Assistance/Subsidy Arrangement, the Company is responsible for meeting all fiduciary responsibilities for control and disbursement of funds in connection with policy administration. This includes ensuring that all accounting for policy administration is correct. If errors are made in policy administration, the Company shall be responsible for reimbursing any incorrect allocations, assessment or other moneys compensated to that company by the Federal Government. The Company is responsible for ensuring that all activities meet the requirements of this Arrangement and of the NFIP Financial Control Plan, 44 CFR Part 62, Appendix B. The NFIP WYO Standards Committee may take remedial action in the event any such conduct is not corrected. FEMA will send a copy of the offer for the FY 2015 Arrangement, together with related materials and submission instructions, to all private insurance companies participating under the current FY 2014 Arrangement. Any private insurance company not currently participating in the WYO Program but wishing to consider FEMA’s offer for FY 2015 may request a copy by writing: DHS/FEMA, Federal Insurance and Mitigation Administration, Attn: Edward L. Connor, Deputy Associate Administrator for Federal Insurance, Federal Insurance and Mitigation Administration, DHS/FEMA, 1800 South Bell Street, Room 720, Arlington, VA 20598–3020, or contact Edward Connor at 202–646–3445 (facsimile), or Edward.Connor@fema.dhs.gov (email). Dated: August 8, 2014. David L. Miller, Associate Administrator, Federal Insurance and Mitigation Administration, Federal Emergency Management Agency, Department of Homeland Security. [FR Doc. 2014–20068 Filed 8–22–14; 8:45 am] BILLING CODE 9110–11–P PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Docket ID FEMA–2014–0002; Internal Agency Docket No. FEMA–B–1434] Proposed Flood Hazard Determinations Federal Emergency Management Agency, DHS. ACTION: Notice. AGENCY: Comments are requested on proposed flood hazard determinations, which may include additions or modifications of any Base Flood Elevation (BFE), base flood depth, Special Flood Hazard Area (SFHA) boundary or zone designation, or regulatory floodway on the Flood Insurance Rate Maps (FIRMs), and where applicable, in the supporting Flood Insurance Study (FIS) reports for the communities listed in the table below. The purpose of this notice is to seek general information and comment regarding the preliminary FIRM, and where applicable, the FIS report that the Federal Emergency Management Agency (FEMA) has provided to the affected communities. The FIRM and FIS report are the basis of the floodplain management measures that the community is required either to adopt or to show evidence of having in effect in order to qualify or remain qualified for participation in the National Flood Insurance Program (NFIP). In addition, the FIRM and FIS report, once effective, will be used by insurance agents and others to calculate appropriate flood insurance premium rates for new buildings and the contents of those buildings. SUMMARY: Comments are to be submitted on or before November 24, 2014. ADDRESSES: The Preliminary FIRM, and where applicable, the FIS report for each community are available for inspection at both the online location and the respective Community Map Repository address listed in the tables below. Additionally, the current effective FIRM and FIS report for each community are accessible online through the FEMA Map Service Center at www.msc.fema.gov for comparison. You may submit comments, identified by Docket No. FEMA–B–1434, to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation Administration, FEMA, 500 C Street SW., Washington, DC 20472, (202) 646–4064, or (email) Luis. Rodriguez3@fema.dhs.gov. DATES: E:\FR\FM\25AUN1.SGM 25AUN1

Agencies

[Federal Register Volume 79, Number 164 (Monday, August 25, 2014)]
[Notices]
[Page 50688]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-20068]



[[Page 50688]]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Docket ID FEMA-2014-0026]


National Flood Insurance Program (NFIP); Assistance to Private 
Sector Property Insurers, Availability of FY 2015 Arrangement

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: Each year, the Federal Emergency Management Agency (FEMA) is 
required by the Write-Your-Own (WYO) Program Financial Assistance/
Subsidy Arrangement (Arrangement) to notify private insurance companies 
(Companies) and to make available to the Companies the terms for 
subscription or re-subscription to the Arrangement. In keeping with 
that requirement, this notice provides the terms to the Companies to 
subscribe or re-subscribe to the Arrangement.

FOR FURTHER INFORMATION CONTACT: Edward L. Connor, Deputy Associate 
Administrator for Federal Insurance, Federal Insurance and Mitigation 
Administration, DHS/FEMA, 1800 South Bell Street, Room 720, Arlington, 
VA 20598-3020, 202-646-3429 (phone), 202-646-3445 (facsimile), or 
Edward.Connor@fema.dhs.gov (email).

SUPPLEMENTARY INFORMATION: Under the Write-Your-Own (WYO) Program 
Financial Assistance/Subsidy Arrangement (Arrangement), 82 (as of 
August 2014) private sector property insurers sell flood insurance 
policies and adjust flood insurance claims under their own names based 
on an Arrangement with the Federal Insurance and Mitigation 
Administration (FIMA) published at 44 CFR Part 62, Appendix A.
    The WYO insurers retain an expense allowance and remit the 
remaining premium to the Federal Government. The WYO insurers pay flood 
losses and pay loss adjustment expenses based on a fee schedule through 
the regulated access of federal funds. In addition, under certain 
circumstances reimbursement for litigation costs, including court 
costs, attorney fees, judgments, and settlements, are paid by FEMA 
based on documentation submitted by the WYO insurers.
    The complete Arrangement is published in 44 CFR Part 62, Appendix 
A. Each year, FEMA is required to publish in the Federal Register and 
make available to the Companies the terms for subscription or re-
subscription to the Arrangement. 44 CFR Part 62, Appendix A, Article 
V.B.
    Signatory Companies should remain aware that all requirements of 
the Arrangement, including, but not limited to, financial accounting in 
issues involving all transactions, must be met. As set forth in Article 
II.A.1. of Appendix A to Part 62--Federal Emergency Management Agency, 
Federal Insurance Administration, Financial Assistance/Subsidy 
Arrangement, the Company is responsible for meeting all fiduciary 
responsibilities for control and disbursement of funds in connection 
with policy administration. This includes ensuring that all accounting 
for policy administration is correct. If errors are made in policy 
administration, the Company shall be responsible for reimbursing any 
incorrect allocations, assessment or other moneys compensated to that 
company by the Federal Government.
    The Company is responsible for ensuring that all activities meet 
the requirements of this Arrangement and of the NFIP Financial Control 
Plan, 44 CFR Part 62, Appendix B. The NFIP WYO Standards Committee may 
take remedial action in the event any such conduct is not corrected.
    FEMA will send a copy of the offer for the FY 2015 Arrangement, 
together with related materials and submission instructions, to all 
private insurance companies participating under the current FY 2014 
Arrangement.
    Any private insurance company not currently participating in the 
WYO Program but wishing to consider FEMA's offer for FY 2015 may 
request a copy by writing: DHS/FEMA, Federal Insurance and Mitigation 
Administration, Attn: Edward L. Connor, Deputy Associate Administrator 
for Federal Insurance, Federal Insurance and Mitigation Administration, 
DHS/FEMA, 1800 South Bell Street, Room 720, Arlington, VA 20598-3020, 
or contact Edward Connor at 202-646-3445 (facsimile), or 
Edward.Connor@fema.dhs.gov (email).

    Dated: August 8, 2014.
David L. Miller,
Associate Administrator, Federal Insurance and Mitigation 
Administration, Federal Emergency Management Agency, Department of 
Homeland Security.
[FR Doc. 2014-20068 Filed 8-22-14; 8:45 am]
BILLING CODE 9110-11-P