Flood insurance program overhaul began this month

Flood insurance - Revision

Despite opposition, Risk Rating 2.0 has gone into effect with revisions expected for 5 million policies. Opponents to the Risk Rating 2.0 did their best to stop the flood insurance program overhaul from becoming a reality, but those members of Congress were unable to do so, and it became effective as of the start of this month. The federal government program’s change will now impact millions of property owners. The Risk Rating 2.0 restructuring has revised the National Flood Insurance Program (NFIP), impacting the premiums of about 5 million policyholders.…

Read More