The Advocate – Louisiana’s largest daily newspaper – published an op-ed authored by Michael Hecht, President & CEO of GNO, Inc. In recounting the history of CSFI and the coalition-building that lead the repeal of the Biggert-Waters Act, the op-ed reiterates CSFI’s resolute advocacy for a sustainable flood insurance program, particularly in the face of RR2.0’s impact.

Hecht addresses the two major concerns around RR’s implementation – affordability and transparency – and offers three sets of recommendations to improve the sustainability of the program:

“The first concerns affordability. Risk Rating 2.0 should include financial guardrails like a maximum 9% annual increase, premium caps linked to coverage limits, and means-testing provisions.

The second centers on mitigation. Additional funding should be provided for individual and community mitigation measures, such as enabling all policyholders to access Community Rating System discounts regardless of whether they have reached their full risk premium.

The third focuses on transparency. FEMA should provide full information, including rate calculation methodology, to American homeowners. This is not only so we can make smart building decisions, but also so that we can ensure that the billions of dollars in existing flood protection investments (both federal and local) are recognized.“

To read the full piece, including more insight into what’s being seen with RR2.0, please visit: https://www.theadvocate.com/baton_rouge/opinion/article_a2cce55a-bb7e-11ec-9868-0b9cb22afa91.amp.html.