With Risk Rating 2.0 currently scheduled to be implemented Oct. 1, disagreements in Congress could lead to a government shutdown and a lapse in the National Flood Insurance Program (NFIP).
The National Flood Insurance Program (NFIP) is currently scheduled to expire on Sept. 30.
Congress returns this month to deal with a number of issues, including legislation that could see tax increases impacting Big “I” members, as well as reauthorizing critical programs such as the National Flood Insurance Program (NFIP).
Property damage and business interruption losses may contribute more heavily toward overall financial losses, with insured losses estimated to be between $15 billion and $25 billion.
With FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP) to be implemented Oct. 1, use these new resources to prepare for the change.
The guide gives agents easy access to Risk Rating 2.0 information when completing a National Flood Insurance Program (NFIP) application.
The notice to Write-Your-Own insurance companies stated the anticipated quoting and policy issuance for Phase 1 of Risk Rating 2.0 policies will be available starting on Aug. 16.
The legislation clarifies that a flood insurance policy purchased in the private market can count as “continuous coverage” under the terms of the National Flood Insurance Program (NFIP).
The webinars will bring agents the latest information on how and when the new pricing methodology for the National Flood Insurance Program (NFIP) will be implemented.
The webinars are designed specifically for independent agents to learn more about FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP).
