Coalition For Sustainable Flood Insurance & Risk Rating 2.0
We are writing to ensure you are aware that FEMA has started to release information on Risk Rating 2.0, and its potential impact on policyholders. You can view FEMA’s updated overview of the program here. The updated rating system is designed to reflect risk more accurately, as well as the value of insured properties.
FEMA has also released state profiles which demonstrate how premiums could be impacted in different states. In general, the percentage of policies that will see premiums increase by more than $240 per year ranges from 3-7%, depending on the state. A sampling of the profiles is included below:
- New Jersey
- New York
As FEMA releases more information, we will provide updated information. We will also hold a virtual relaunch of our Coalition for Sustainable Flood Insurance Coalition (CSFI) with a webinar on Wednesday, April 14 at 9:00 a.m. CST. As a reminder, the mission of CSFI is to ensure flood insurance is both affordable and sustainable for all Americans. CSFI played a lead role in fixing the Biggert Waters flood insurance legislation, nearly ten years ago.
You can register here. and please feel free to share this information. After registering, you will receive a confirmation email containing information about joining the meeting.