News

Nationally, nearly 7.8 million single and multifamily homes with more than $2.3 trillion in combined reconstruction cost value are at risk of storm surge, according to CoreLogic.

Today, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, “Reauthorization of the National Flood Insurance Program: Administration Perspectives.”

In its written testimony, the Big “I” underscored the importance of finally enacting a long-term reauthorization of the National Flood Insurance Program (NFIP).

The Big “I” submitted a statement that underscored the importance of finally enacting a long-term reauthorization of the NFIP after numerous short-term reauthorizations.

In May, FEMA is hosting more webinars for agents that will focus on Risk Rating 2.0.

Beginning Friday, April 1, all flood policies must be priced under Risk Rating 2.0 at renewal.

FEMA is currently offering new webinars for agents that will focus on the renewal process under Risk Rating 2.0 beginning April 1.

The bill would require FEMA to publish the formulas used to calculate policyholder mitigation credits under Risk Rating 2.0.

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.

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.