Risk Rating 2.0 Takes Effect for All Policies Next Week
FEMA is currently offering new webinars for agents that will focus on the renewal process under Risk Rating 2.0 beginning April 1.
Flood
NFIP Legislation Introduced as Risk Rating 2.0 Deadline Approaches
The bill would require FEMA to publish the formulas used to calculate policyholder mitigation credits under Risk Rating 2.0.
3 Ways Agents Can Get Clients the Flood Coverage They Need
As carriers become increasingly comfortable with using sophisticated models to underwrite flood perils, agents are now in a better position to offer flood coverage options.
FEMA Announces New Risk Rating 2.0 Webinars for Agents, NFIP Reauthorization Nears
Beginning April 1, all flood policies must be priced under Risk Rating 2.0 at renewal. FEMA is offering new webinars that will focus on renewals under Risk Rating 2.0.
How Offering Both Government and Private Flood Insurance Options May Benefit Clients
As pricing in the National Flood Insurance Program (NFIP) increases, insureds are seeking alternatives that might be more cost-effective.
From the Front Lines: Flood
“With the world experiencing more extreme weather events, the value of flood insurance is a lesson that is more important than ever,” says independent agent Lisa Sharrard. “Some homeowners pay off their mortgage, cancel their flood policy and believe they
Big ‘I’ Urges Agents to Take Action Ahead of Risk Rating 2.0 Implementation for all Renewal Policies
As the April 1 implementation date for all Risk Rating 2.0 renewals approaches, agents should review all communication from their Write Your Own (WYO) companies.
Senate Expected to Pass Legislation to Extend NFIP
As of press time, the U.S. Senate was expected to pass legislation that would fund the government through March 11, 2022, and extend the National Flood Insurance Program (NFIP) for the same period.
House Passes Legislation to Extend NFIP
The U.S. Senate is expected to take up the legislation in the coming days, which is needed to avoid a government shutdown and a lapse in the NFIP.
Brief NFIP Lapse Possible as Congress Considers Government Funding
The National Flood Insurance Program (NFIP) is scheduled to expire on the same date as government funding, which will expire tomorrow if legislation is not passed.
