The Federal Emergency Management Agency (FEMA), which administers the National Flood Insurance Program (NFIP) announced Risk Rating 2.0, a new effort designed to improve how the NFIP determines flood risk and flood insurance premiums. It purports to leverage industry best practices and technology; however, by most accounts, Risk Rating 2.0 will increase premiums and decrease […]
NFIP Reauthorization Watch – Notes from a Congressional Hearing
The countdown is on, yet again, for NFIP Reauthorization, the renewal of the National Flood Insurance Program set to expire May 31, 2019. Both the U.S. House of Representatives and U.S. Senate must pass legislation to continue the federal program and will consider changes, improvements, short-term or long-term renewal. Last month’s U.S. House Committee on […]
Federal Flood Insurance is a Mess – A Candid Commentary
This is an excerpt of a commentary by Anita Byer, president of Setnor Byer Insurance & Risk in Plantation, FL. Read it in its entirety at Hill Country News. This year is the 50th anniversary of the National Flood Insurance Program, and this federally subsidized program has not aged well. In 2017, it had the […]