News & Updates

Learn the latest on flood insurance reform

CSFI Discusses Risk Rating 2.0, Recommendations for Policyholders on Great Day Louisiana

In December, CSFI’s Jasmine Brown-DeRousselle was interviewed by WWL’s Great Day Louisiana.   She spoke with host Malik Mingo to update viewers on Risk Rating 2.0’s implementation and elaborated on FEMA’s rating factors.  She provided tips to policyholders to offset experienced premium increases, such as elevating machinery and equipment, while encouraged policyholders not to drop coverage, in order to benefit from the 18 percent maximum annual premium increase.   Find the full feature on WWL’s website.

Furthermore, as an additional tool to reduce flood risk, communities should consider FEMA’s Flood Mitigation Assistance (FMA) grants.  FMA grants, open to local jurisdictions and state governments, can be used for projects that reduce or eliminate the risk of repetitive flood damage to NFIP-insured, privately-owned buildings.  The FY22 FMA grant program is accepting application until January 27, 2023.

Meanwhile, NFIP was reauthorized from December 16 until December 23, through the Further Continuing Appropriations and Extensions Act.   Congress is expected to act on an omnibus spending package, further extending NFIP’s authorization, later this week.