Risk Rating 2.0
The National Flood Insurance Program’s new rating methodology, Risk Rating 2.0, will deliver rates that are actuarially sound, equitable, easier to understand and better reflect a property’s flood risk. The new program will be implemented in two phases.
PHASE I – New policies beginning Oct. 1, 2021, will be subject to the new rating methodology. Also beginning Oct. 1, existing policyholders eligible for renewal will be able to take advantage of immediate decreases in their premiums. PHASE II – All remaining policies renewing on or after April 1, 2022, will be subject to the new rating methodology.
Current FEMA resources on Risk Rating 2.0
- FEMA Risk Rating 2.0 webpage
- NFIP, Risk Rating 2.0 Methodology and Data Sources, March 25, 2021
- Risk Rating 2.0 is Equity in Action
- Risk Rating 2.0 – National Rate Analysis (graphic)
- Risk Rating 2.0 State Fact Sheets
- Legacy Rating Program changes
- New NFIP Pricing Methodology Program Changes and Updated Guidance Effective October 1, 2021
- Risk Rating 2.0 Methodology and Data Sources -Premium Calculation Worksheet Examples (Excel spreadsheet)
- Risk Rating 2.0 Appendix D Rating Factors (Excel spreadsheet)
Updated Policy Forms to conform with changes to reflect BW-12 and HFIAA and additional clarifications for plain language.
- Residential Condominium Building Association Policy: Standard Flood Insurance Policy
- General Property Form: Standard Flood Insurance Policy
- Dwelling Form: Standard Flood Insurance Policy
National Flood Insurance Program: The Current Rating Structure and Risk Rating 2.0 (CRS Report – Updated January 25, 2021)
Floodplain Management Topics
The Association of State Floodplain Managers maintains this library for the convenience of its members and the public. The publications and presentations contained therein are the works of independent authors. ASFPM does not and cannot accept responsibility for the contents of these presentations, in any manner shape or form, including, but not limited to their correctness, currency, or appropriateness. Floodplain Management rules and regulations are substantially influenced by the quirks of State and local laws and ordinances, as well as ever changing Federal law, regulation and policy as well as court decisions. Use these presentations for ideas and concepts, responsibility for content is your own.