March 29, 2017
FEMA IAA announce some NFIP rate changes
By News Editor
Intergovernmental Affairs Advisory – As previously announced on Sept. 27, 2016, key changes being made to the National Flood Insurance Program on April 1, 2017 include updated insurance policy premium increases conforming to the premium rate caps established by the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) and the Homeowner Flood Insurance Affordability Act
March 3, 2017
Office of the Flood Insurance Advocate Releases Second Annual Report
By News Editor
The Office of the Flood Insurance Advocate advocates for the fair treatment of policyholders and property owners by providing education and guidance on all aspects of the National FloodInsurance Program, identifying trends affecting the public, and making recommendations for program improvements to Federal Insurance and Mitigation Administration leadership. In its second year of operations, the
March 1, 2017
Elevation Certificate Revised, FEMA Announced March 1, 2017
By News Editor
Elevation Certificate Revised, FEMA Announced March 1, 2017 FEMA announced in a March 1 bulletin that the newly revised Elevation Certificate (FEMA form 086-0-33) can now be accessed at: https://www.fema.gov/media-library/assets/documents/160 Bruce Bender, ASFPM Insurance Committee co-chair, said of the announcement, “After the initial release of the Elevation Certificate, the ASFPM Insurance Committee began gathering…
January 11, 2017
FEMA sending letters to policyholders to clearly communicate flood risk
By News Editor
FEMA has now begun the next phase of implementation of Section 28, Clear Communication of Risk, of the Homeowner Flood Insurance Affordability Act of 2014, which requires the agency to clearly communicate full flood risk determinations to individual property owners. To meet this requirement, the National Flood Insurance Program reviewed the flood risk and underwriting
December 7, 2016
In early January, FEMA plans to implement a larger reinsurance program at the federal level
By News Editor
Public Notice of the FEMA Intended Procurement for NFIP With the impacts of several large flood disasters over the past years, the National Flood Insurance Program experienced situations where the cost of policy claims far exceeded the amount of premiums and accumulated surplus. This resulted in the NFIP incurring a debt to the U.S. Treasury