FEMA is updating the National Flood Insurance Program’s risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0 – Equity in Action. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarially sound, equitable, easier to understand and better reflect a property’s flood risk.
This webinar brings agents the latest information on how and when Risk Rating 2.0 will be implemented. It will also discuss the following key topics:
– What is Risk Rating 2.0: Equity in Action
– What led to this NFIP transformation
– The NFIP today
– What is changing
– What is not changing
– Transition of current policies