Blog: Risk Rating 2.0 – A first look at FEMA’s new flood insurance system
Risk Rating 2.0 has been called the Federal Emergency Management Agency’s (FEMA)’s most significant reform in 50 years. Roughly 77% of customers of the National Flood Insurance Program (NFIP) nationwide will see increases in their premiums, while the other ~23% will see reductions or no change. FEMA will formally introduce Risk Rating 2.0 on October 1, 2021, and most premium increases will kick in on April 1, 2022.
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