44 C.F.R. § 2.31 Federal Insurance Administration.
Title 44 - Emergency Management and Assistance
(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.
Title 44: Emergency Management and Assistance
PART 2—ORGANIZATION, FUNCTIONS, AND DELEGATIONS OF AUTHORITY
Subpart A—Organization, Functions, and Delegations of Authority
Administrations
§ 2.31 Federal Insurance Administration.
