Flood Insurance: Federal Emergency Management Agency's Basement Coverage Limitations

In response to congressional requests, GAO reported on the Federal Emergency Management Agency's (FEMA) Federal Insurance Administration (FIA) limitations on flood insurance coverage of basement contents, specifically FIA: (1) authority to change insurance coverage; (2) analysis of flood insurance losses to support basement coverage limitations; (3) reasons for rejecting other alternatives for modifying basement coverage; and (4) notification of policyholders of the new limitations.