The bill increases to $100,000 the maximum payout for the National Flood Insurance Program’s Increased Cost of Compliance (ICC) coverage. ICC is a type of insurance that helps cover the cost of flood risk reduction measures for properties impacted by flooding.

WHY WE LIKE IT

ICC coverage can reduce flood damage and NFIP claims in the long term by helping property owners take steps to reduce their home’s flood risk such as elevating the structure, flood-proofing property elements, or relocating. Since the cost of implementing these protections has increased significantly over time, this increase would enable more property owners to reduce the risk of flood damage.