In July 2020, FEMA updated the National Flood Insurance Program rules based on the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowners Flood Insurance Affordability Act of 2014. This final rule, effective from October 1, 2021, corrects mistakes in the July 20 instructions for these regulations. Some corrections include fixing typos in specific sections and properly numbering or naming certain paragraphs. The final rule clarifies existing flood insurance policies and provides instructions to agents and brokers licensed to sell these policies.
Simple Explanation
In 2012 and 2014, new rules were made to help with flood insurance, and in 2021, they fixed some goofs in those rules, like fixing names and numbers to make them less confusing. FEMA wants to make sure everyone selling or buying flood insurance is on the same page and understands what's what.