Changes Ahead- Risk Rating 2.0

Risk Rating 2.0 – New Initiative May Increase Flood Premiums and Decrease Property Values

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 […]

Flood Risk News & NotesvFIS

Flood Risk News & Notes: Rates, Maps, Regulatory and Elevation Matters

From the headlines to your bottom line, this edition of Flood Risk News & Notes includes another extension of the National Flood Insurance Program (NFIP); an increase in flood insurance premium rates; flood map changes in more than 70 communities around the country; and a reminder about elevation certificates. Below you will find a summary […]