This week, FEMA released a fact sheet that provides an overview of what some eligible NFIP policyholders can expect in refunds later this year from the Homeowner’s Flood Insurance Affordability Act of 2013.

The new flood law made several modifications to Biggert-Waters, including reinstating many of the subsidized rates Biggert-Waters eliminated and calling for refunds of the difference between the subsidized rates and the higher full-risk rates policyholders were required to pay as a result of Biggert-Waters.

The FEMA fact sheet provides a simple overview of who is and is not eligible to receive these refunds, which will be disbursed later this year. Please note refunds apply to only a very small group of policyholders. Most NFIP policies will not be eligible for a refund.

John Prible is Big “I” vice president of federal government affairs.