Final answer:
A Flood Insurance Study includes flood risk maps, flood insurance rate maps, a narrative report, flood frequency analysis, historical data, and hydrological and hydraulic analyses. It utilizes stream gauge data to construct flood frequency curves, crucial for flood control and insurance calculations.
Step-by-step explanation:
A Flood Insurance Study (FIS) is a comprehensive examination and analysis of flooding in a specific area. The main components include flood risk maps, flood insurance rate maps (FIRMs), and a narrative report. FIRMs are vital as they delineate flood hazards and form the basis for floodplain management decisions and flood insurance requirements. Another essential component is the flood frequency analysis, which is used to create flood recurrence intervals that are crucial for assessing the probability of flood events. Additionally, historical flood data, hydrologic and hydraulic analyses, and information about local flood control measures are included in an FIS.
Notably, the U.S. Geological Survey's installation of stream gauges aids in developing flood frequency curves, key for flood control planning and insurance studies. For instance, following a massive flood event in western Georgia in 2009, flood frequency graphs were constructed using data from a stream gauge on Sweetwater Creek near Austell, Georgia, demonstrating their importance for understanding flood risks and preparing appropriate response mechanisms.