Base flood

{
  "id": "MLC-T-INS-000017",
  "term": "Base flood",
  "field": "Insurance and risk management",
  "term_source": "Base Flood",
  "definition": "1. A flood having a 1% chance of being equaled or exceeded in any given year.\n\n2. A flood having a one percent chance of being equaled or exceeded in any given year. This is the regulatory standard also referred to as the \"100-year flood.\" The base flood is the national standard used by the National Flood Insurance Program (NFIP) and all Federal agencies for the purposes of requiring the purchase of flood insurance and regulating new development. Base Flood Elevations (BFEs) are typically shown on Flood Insurance Rate Maps (FIRMs).\nNational Flood Insurance Program Requirements\n• 59.1 - Definition",
  "subject": "National Flood Insurance Program",
  "references": [
    "FloodSmart Flood Insurance Glossary",
    "FEMA Glossary"
  ],
  "url": "https://mlchart.com/terminology/insurance/base-flood/"
}