Federal Insurance Administration

What Does Federal Insurance Administration Mean?

The Federal Insurance Administration is a government agency that offers certain types of insurance to specific groups, including flood insurance for individuals living in high-risk areas, FAIR plans for homeowners denied coverage by private insurers, and federal crime insurance.

Insuranceopedia Explains Federal Insurance Administration

People living in areas prone to severe flooding, such as flood zones or near rivers, often find it challenging to obtain flood insurance from private insurers. The Federal Insurance Administration offers insurance to these individuals to help ensure that property owners do not have to bear the full risk themselves.