What is the definition of Federal Insurance Administration / Fia?
The Federal Insurance Administration is the federal agency that maintains flood-related claims files in the United States. This federal agency functions not as a regulating body for the insurance industry but to administer the country’s Federal Flood Insurance Program, the Fair Access to Insurance Requirement Plan, as well as the Federal Crime Insurance Program. The FIA has thousands of records of claims, that may be accessed by insurance companies and other interested parties in order to analyze, sort and use the information for premiums computations and other insurance-related tools. The Flood Insurance Program ensured that residents of flood-prone areas are able to get insurance coverage for their homes in case there is a flood, especially to communities which adopt floodplain management practices.
