1990 – The Community Rating System (CRS) Begins

The Community Rating System (CRS) begins. Under CRS, discounts on flood insurance premiums are available in communities that voluntarily initiate activities that reduce flood losses or that increase the number of flood insurance policies. CRS is the product of three years of development by the Community Rating Task Force, which had representatives from FIA, the insurance industry, and state and local floodplain managers. Extensive field testing, critiques, and reviews with communities, public interest organizations, and the ASFPM’s technical advisors were conducted by the Insurance Services Office’s Commercial Risk Services Organization under the technical directions of the Community Rating Task Force. Four hundred professional floodplain managers, 50 public interest organizations, and representatives of over 100 communities reviewed the proposal.