The Federal Emergency Management Agency (FEMA) is rolling out a new method for determining premiums in the National FLood Insurance Program (NFIP) they claim will be more equitable regarding the property's actual flood risk, promising that 96 percent of current policyholders will see either an immediate decrease or no more than $20 increase in their monthly premiums.
The new system will be applied to new policies beginning in October 2021 and to renewals in April 2022. Scroll down for agent training webinars.
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Download FEMA Risk Rating 2.0 info sheet
Download FEMA South Carolina Risk Rating 2.0 info sheet
Risk Rating 2.0 Equity in Action webinar
To prepare agents, they are offering several sessions in June and July of a training webinar that will be filed for CE credit. The webinar will offer the latest information on how and when Risk Rating 2.0 will be implemented. Topics include:
- "Equity in Action"
- What led to this NFIP transformation
- What is changing
- What is not changing
- Transition of current policies
July 29 (3:00 pm Eastern time)
Aug. 10 (3 pm Eastern time)
Aug. 12 (11 am Eastern time)
Aug. 17 (3 pm Eastern time)
Aug. 19 (11 am Eastern time)
Aug. 24 (3 pm Eastern time)
Aug. 26 (11 am Eastern time)
Aug. 31 (3 pm Eastern time)
(REGISTRATION LINKS COMING SOON)