*insures approximately 4,400,000 policyholders; *about 48,000 properties currently insured under the program have experienced, within a 10-year period, two or more flood losses where each loss exceeds $1,000; *approximately 10,000 of these repetitive-loss properties have experienced either two or three losses that cumulatively exceed building value or four or more losses, each exceeding $1,000; *repetitive-loss properties constitute a significant drain on the resources of the national flood insurance program, costing about $200 million annually; *repetitive-loss properties make up about 1% of currently insured properties but are expected to account for 25 to 30% of claims losses; *the majority of repetitive-loss properties were built before local community implementation of floodplain management standards under the program and are consequently eligible for subsidized flood insurance; *"while some property owners take advantage of the program allowing subsidized flood insurance without requiring mitigation action, others are trapped in a vicious cycle of suffering flooding, then repairing flood damage, then suffering flooding, without the means to mitigate losses or move out of harm's way"; *"the method for addressing repetitive-loss properties should be flexible enough to take into consideration legitimate circumstances that may prevent an owner from taking a mitigation action." Source: Congressional findings