OFIA Report Outlines Recommendations to Improve the NFIP
The Office of the Flood Insurance Advocate (OFIA) is pleased to announce the public release of the OFIA FY2022 Report: Insights and Recommendations. This report highlights the new National Flood Insurance Program (NFIP) rate structure as a necessary change that simplifies the flood insurance quoting and application process, eliminates unintentional inequities in the old premium rates, and provides more accurate price signals of the risk of flooding. The report advocates for advancing communications and makes recommendations for programmatic process improvements.
OFIA FY2022 Report: Insights and Recommendations
Join FEMA and ASFPM on Feb. 1 for a live presentation on the findings from this latest OFIA report, followed by Q&A. The cost is free for ASFPM members. Register here
About the Report
The OFIA’s mission is to advocate for policyholders and property owners with compassion and fairness. OFIA’s goal is to reduce the complexity of the NFIP to ensure policyholders are treated fairly. The OFIA accomplishes this by fielding inquiries from NFIP customers, identifying trends in the issues these customers face, and making recommendations for program improvements based on these findings. These findings and recommendations are published in OFIA’s annual reports.
The OFIA Fiscal Year 2022 Report focuses on improving customer experience. With a modernized approach to flood insurance rating, there are also opportunities for improvements to advance the NFIP customer experience. OFIA’s FY22 Report focuses on the following topics:
- Communicating Premium Pricing: inquirers seek more tools and information to help them understand risk, understand premium rating and make informed decisions.
- Flood Insurance Communication Mailings: inquirers seek more detailed information on communication mailings such as policy declarations pages, quotes and renewal notices.
- Consequences of a Lapse at the Time of Renewal: inquirers express confusion and frustration when a lapse in coverage results in the need for a new application, resulting in a new effective date, a loss of discounts and sometimes a substantially higher premium.
- Frustration with Understanding How to Reduce Flood Insurance Premiums: inquirers express they need more clarity on taking mitigation actions to reduce flood risk and flood insurance premiums.
