1968
National Flood Insurance Act of 1968 creates National Flood Insurance Program.

1973
Flood Disaster Protection Act of 1973 mandates flood insurance purchase in Special Flood Hazard Zones.

1983
Government launches Write-Your-Own insurance program, where private insurers and producers market and service NFIP policies in an effort to encourage participation in the program. The federal government remains the NFIP underwriter.

2005
Hurricane Katrina and others plunge NFIP into billions of dollars of debt.

2012
Superstorm Sandy continues to add to NFIP’s growing debt. Biggert-Waters Flood Insurance Reform Act becomes law, requiring, among other things, that premiums better reflect the risk insured.

2014
Homeowners Flood Insurance Affordability Act of 2014 delays implementation of some Biggert-Waters reforms and repeals others.

2016
NFIP makes its first purchase of private reinsurance to bolster the program.

2017
NFIP’s debt has ballooned to more than $24 billion. Congress begins debate over reforming and reauthorizing NFIP, which is set to expire Sept. 30. In late August, Hurricane Harvey devastates Houston and other areas along the Texas Gulf Coast, and Hurricane Irma slams Florida in September, ensuring NFIP’s deficit will grow.