In April of this year the National Flood Insurance Program (NFIP) released information on what it called Risk Rating 2.0. Since the announcement, articles, papers, opinions and coverage from industry trade magazines have rendered differing points of view on what will happen, ultimately, to both coverage and pricing in both Federal and private Flood programs. Johnson Strategies, LLC reached out to the FAIR Foundation for the most definitive and comprehensive information, from a wide array of sources. See list below.
Here, with permission from the FAIR Foundation, Johnson Strategies offers the following overview and summary of what has transpired with respect to Risk Rating 2.0 from FEMA/NFIP and what property owners and agents can expect as the new program slowly unfolds in October of 2021.