National Mar 7, 2019
NFIP changes in April 2019; January 2020
The Federal Emergency Management Agency announced program changes to be implemented in the National Flood Insurance Program. According to Bulletin W-18021a, some changes that are effective April 1, 2019, include:
- updated premium rates;
- a revision of Severe Repetitive Loss Premium; and
- a declarations page requirement related to clear communication of risk.
Other program changes that are effective Jan. 1, 2020, include:
- updated base premiums for Preferred Risk Policies and policies rated under the Newly Mapped procedure; and
- updated premium multiplier tables for policies rated under the Newly Mapped procedure.
For more information on these changes and other flood-related news, including marketing resources; coverages issues; and information on flood maps and elevation certificates, check out PIA’s Flood Insurance Tool Kit, another benefit of your PIA membership.