Are you ready for Risk Rating 2.0? The National Flood Insurance Program (NFIP) is rolling out the first major update to its rating and pricing methodology in 50 years. This is a big deal because the NFIP provides about $1.3 trillion of flood insurance coverage...
The Federal Emergency Management Agency is in the midst of a multi-year initiative to update flood zone maps in more than 20,000 communities nationwide. Current maps need updating to more accurately reflect the risk of flooding. Flood hazards change over time and maps in some...
Property damage caused by flooding is not covered by standard homeowners’ insurance policies, so those facing a flood risk need a separate flood insurance policy. The National Flood Insurance Program (NFIP) provides access to affordable, federally backed flood insurance. What is a Flood? The NFIP defines a...