Social Studies, 27.07.2020 01:01 teddybear196510

Choose the true statement regarding the National Flood Insurance Program. A Flood policies are available only from the National Flood Insurance Program
B Coverage includes trees, shrubs, and plants
C Agents may bind flood insurance for up to 15 days prior to submitting the final application
D The federal government oversees and reinsures all flood insurance

Answers: 3

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The correct statement regarding the National Flood Insurance Program is that the federal government oversees and re-insures all the flood insurances. So, the correct option is D.

The federal government take the task of overseeing and re-insuring all the flood insurances with the purpose of minimizing the risks associated with the floods that happen.

The National flood insurance policy was instated into the legislature as from the year 1968 by the federal government in the United States of America to protect citizen's from losses due to floods.The program was started with a view to minimize the risks of a flood creating losses to public property and thereby creating a huge downfall in the economy.To protect businessmen, public, tenants, owners of buildings, constructions and structures against the ill effects of flood, the government re-insures the policies in the taxation itself.

Hence, the correct option is D that the federal government oversees and re-insures all the flood insurances under the ambit of National Flood Insurance Policy (NFIP).

To know more about Insurance Policy, click the link below.

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Answer from: sxbenn

D The federal government oversees and reinsures all flood insurance.

Explanation:

NFIP is a government funded agency against flood disaster, it was legislated by The National Flood Insurance Act of 1968 led to the creation of the National Flood Insurance Program (NFIP

National flood insurance program aims at reducing the impact of flood on structures this include the private and public.

They provide insurance against flood disaster to property owners, tenants, businesses and also encourage people and communities to make use of floodplain management regulations.

This is done by providing disaster assistance that is required to meet the costs of repairing damage buildings, structures and their contents.

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Choose the true statement regarding the National Flood Insurance Program. A Flood policies are avai...

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