FEMA is updating the National Flood Insurance Program's risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0 - Equity in Action. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarially sound, equitable, easier to understand and better reflect a property's flood risk.
CE credits offered for FREE Insurance Agent training on Risk Rating 2.0: Equity in Action RISK RATING 2.0: EQUITY IN ACTION FEMA is updating the National Flood Insurance Program's (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA... Continue Reading →
FEMA’s long-awaited Risk Rating 2.0 rollout is now underway as the agency announced April 1 that NFIP flood insurance policyholders will see a new system calculate their premiums. FEMA should be releasing more details in the coming days on its Risk Rating 2.0 webpage, and ASFPM will pass along any noteworthy information to our stakeholders.
A Big Mahalo to FEMA Region IX Flood Insurance Specialist, Edie Lohmann for taking time away from her busy schedule to lead a Flood Insurance Workshop here in Honolulu this past August for our local insurance agents, realtors, and lenders. Much Aloha also goes out to Hawaii Independent Insurance Agent Association (HIIA), Executive Director, Chenise... Continue Reading →