Coalition For Sustainable Flood Insurance March 2021 Update
Good afternoon, CSFI Stakeholders,
Our Coalition for Sustainable Flood Insurance (CSFI) team is ramping up and we are eager to engage with you all on the reauthorization of the National Flood Insurance Program. We plan to hold a series of virtual meetings with CSFI stakeholders this spring. In the meantime, a couple of updates:
The current NFIP reauthorization is set to expire on September 30. CSFI will be advocating for a long-term NFIP that includes our framework addressing Risk Assessment, Affordability, Mitigation, and Program Participation (RAMP).
Risk Rating 2.0
Our Coalition will continue to strongly encourage the release of more information on Risk Rating 2.0, FEMA’s redesigned rating system using current technology. The new system is set to be implemented for new policyholders on October 1, 2021. For existing policyholders, the new system is anticipated to go into effect April 1, 2022. You can read more in a news article here. FEMA is expected to release new information on RR 2.0 next month, and we will send out an update as soon as we learn of any notable announcements.
In the meantime, please reach out with any questions and we look forward to working with you in 2021.