National Flood Insurance Program (NFIP)
a federal program created by Congress in 1968 that provides the availability of flood insurance to communities in exchange for the adoption and enforcement of a minimum floodplain management ordinance specified in 44 CFR §60.3. The ordinance regulates new and substantially damaged or improved development in identified flood hazard areas.
Visit FEMA NFIP at: http://www.fema.gov/about/programs/nfip/index.shtm