flood insurance
Insurance that indemnifies against a loss caused by a flood. • This type of insurance is often sold privately but subsidized by the federal government. [Cases: Insurance 2209–2213. C.J.S. Insurance §§ 60, 1077.]
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federal crop insurance corporation
Federal Crop Insurance Corporation. A federally chartered corporation that protects farmers against financial losses from crop failure due to adverse weather conditions, insect infestation, plant disease, floods, fires, and earthquakes by encouraging the sale of insurance through licensed agents and brokers and by reinsuring private companies that issue insurance under brand names. • Created by
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federal emergency management agency
Federal Emergency Management Agency. A unit in the Department of Homeland Security responsible for coordinating all emergency-preparedness activities of the federal government through its ten regional offices. • FEMA also operates the National Flood Insurance Program and is responsible for fire protection and arson control. It was established as an independent agency by Executive Order
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peril
peril. 1. Exposure to the risk of injury, damage, or loss (the perils of litigation). inescapable peril. A danger that one cannot avoid without another’s help. See LAST-CLEAR-CHANCE DOCTRINE. [Cases: Negligence 530(1). C.J.S. Negligence §§ 281–290, 313, 318.] 2. Insurance. The cause of a risk of loss to person or property; esp., the cause of