June 2020 – National Flood Association

New Flood Risk Assessment Tool

New Flood Risk Assessment Tool The non-profit research and technology group, First Street Foundation, just released their online probabilistic flood model, FloodFactor, which provides more comprehensive flood risk information for U.S. properties in an easy-to-understand format. The free tool is the product of more than 80 world-renowned scientists, technologists and analysts who worked in partnership to […]

June 29, 2020

Report on Persistent Fiscal Exposure Despite Property Acquisitions

Report on Persistent Fiscal Exposure Despite Property Acquisitions The Government Accountability Office (GAO) has released a report regarding the efficacy of using FEMA grants to acquire repetitive loss properties to the NFIP’s overall and long-term fiscal exposure. Findings reveal that although acquisition and demolition of these properties reduces certain risks to the program, highly-subsidized premium […]

June 25, 2020

CRS Class Changes: FEMA Bulletin w-20007

CRS Class Changes: FEMA’s Bulletin w-20007 FEMA has issued bulletin w-20007 to communicate changes to the Community Rating System (CRS) classifications for communities that will take effect on October 1, 2020. The changes have implications for premium discounts afforded to NFIP policyholders based upon their respective communities’ efforts to meet FEMA’s recommended standards for mitigating […]

June 23, 2020

Interagency Questions & Answers Regarding Flood Insurance

Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance Interagency Questions & Answers Regarding Flood Insurance: a long-awaited draft revision of the 2011 document was jointly published by the Federal Financial Regulatory Agencies last Friday to update certain guidance and to reorganize subject matter to make it easier to reference. […]

June 13, 2020

Month: June 2020