What are the pros and cons of predrawn hazard maps from federal agencies?When are they utilized?

Hazard maps assist to mitigate damages resulting from
natural disasters.  The use of hazard maps helps to create safer communities and reduce
losses of life and property.  Knowing the potential impact of hazards enables
individuals and communities to recover more rapidly from disasters and lessens the
financial impact of the disaster.   The most problematic issue with hazard maps is the
update process.  Federal Emergency Management Service has only a limited amount of money
each year to update hazard maps.  FEMA prioritizes their study and needs based upon the
highest priority.   Change in status of a home due to an updated hazard maps can cost
individual homeowners and businesses greater insurance rates and or need to obtain
specific hazard insurance.