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TeachMeFinance.com - explain National Flood Insurance Reform Act (NFIRA) National Flood Insurance Reform Act (NFIRA) The term 'National Flood Insurance Reform Act (NFIRA)' as it applies to the area of flooding can be defined as 'The purpose of the National Flood Insurance Reform Act of 1994 is to improve the financial condition of the NFIP and reduce federal expenditures for disaster assistance to flood-damaged properties. The act affects every part of NFIP, insurance, mapping and floodplain management. NFIRA also gives lenders tools with which to enforce requirements for flood insurance coverage mandated under the Flood Disaster Protection Act of 1973'. Previous 5 Terms: National Environmental Policy Act of 1970 National Estuary Program National farm program acreage National Fire Danger Rating System National Flood Insurance Program (NFIP) Next 5 Terms: National Flood Summary National forest National Forest Management Act (NFMA) of 1976 National Forest System (NFS) National grasslands About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.