The webinars are designed specifically for independent agents to learn more about FEMA's new pricing methodology for the National Flood Insurance Program (NFIP).
Earlier this week, FEMA announced new July dates and times for their Risk Rating 2.0 – Equity in Action webinars. Designed specifically for insurance agents, the webinars began in June and will continue through July with more sessions tentatively scheduled for August.
Risk Rating 2.0 is FEMA's new pricing methodology for the National Flood Insurance Program (NFIP). It is currently scheduled to be implemented starting on Oct. 1 for new policies and for those seeking to renew policies that will see lower rates under Risk Rating 2.0. It will be implemented for all other renewals starting in April 2022.
Information about the July webinars, such as dates, times and how to register, is listed in this FEMA bulletin. The bulletin also includes important information about continuing education (CE) credits, including which states have approved the webinars for CE credits. In addition to the states which have already approved the webinars for CE credits, there are still some pending approvals for CE credits that are outlined within the bulletin.
The Risk Rating 2.0 – Equity in Action webinars are free to attend, but spaces are limited to 1,500 attendees per event. Register early if you are interested. The webinar will bring agents the latest information on how and when Risk Rating 2.0 will be implemented. It will also discuss the following topics:
- What is Risk Rating 2.0 – Equity in Action?
- What led to this NFIP transformation?
- The NFIP today: What is changing?
- What is not changing?
- How will current policies transition?
The Big “I" believes that Risk Rating 2.0, if properly implemented, has the potential to improve the NFIP experience for agents and consumers, but the rollout of the program will be critical in determining the success of the effort. As FEMA continues to provide more information regarding Risk Rating 2.0, we will continue to provide members with updates in the weekly News & Views e-newsletter.
Wyatt Stewart is Big “I" assistant vice president of federal government affairs.