[Title 44 CFR 2.31]
[Code of Federal Regulations (annual edition) - October 1, 1996 Edition]
[Title 44 - EMERGENCY MANAGEMENT AND ASSISTANCE]
[Chapter I - FEDERAL EMERGENCY MANAGEMENT AGENCY]
[Subchapter A - GENERAL]
[Part 2 - ORGANIZATION, FUNCTIONS, AND DELEGATIONS OF AUTHORITY]
[Subpart A - Organization, Functions, and Delegations of Authority]
[Sec. 2.31 - Federal Insurance Administration.]
[From the U.S. Government Publishing Office]




  44
  EMERGENCY MANAGEMENT AND ASSISTANCE
  1
  1996-10-01
  1996-10-01
  false
  
  2.31
  Sec. 2.31
  
    EMERGENCY MANAGEMENT AND ASSISTANCE
    FEDERAL EMERGENCY MANAGEMENT AGENCY
    GENERAL
    ORGANIZATION, FUNCTIONS, AND DELEGATIONS OF AUTHORITY
    Organization, Functions, and Delegations of Authority
  


Sec. 2.31  Federal Insurance Administration.

    (a) Mission. The Federal Insurance Administration markets, issues, 
and services insurance policies under the National Flood Insurance 
Program (NFIP) and the Federal Crime Insurance Program (FCIP), with 
assistance from private insurance companies and servicing contractors.
    (b) Functions. The principal functions of the Federal Insurance 
Administration are:
    (1) Establishment of regulations, policy guidelines, standard 
contracts of insurance, and insurance rates for the NFIP and FCIP;
    (2) Establishment of policy, plans, and procedures for evaluation, 
payment, and review of insurance claims;
    (3) Oversight of servicing contracts for the NFIP and FCIP and the 
issuance and servicing of flood insurance policies by Write-Your-Own 
(WYO) carriers;
    (4) Studies of the costs and feasibility of proposed extensions of 
the National Flood Insurance Program or of the proposed establishment of 
Federal insurance programs for other natural hazards; and
    (5) Administration of the National Flood Insurance Fund and National 
Insurance Development Fund.
    (c) Delegated authorities. The Federal Insurance Administrator is 
authorized to exercise the duties and powers of the Director as set 
forth in Section 1-104 of E.O. 12127 insofar as it pertains to the 
marketing, issuance, and servicing of insurance under the NFIP and FCIP.