FEMA publishes data on flood insurance methodology

FEMA is releasing more data on the agency’s new flood insurance rate pricing methods. The National Flood Insurance Program is using a new rating methodology—Risk Rating 2.0—to calculate flood insurance rates based on a unique combination of rating variables for each property to reflect its flood risk. FEMA created exhibits to show the risk-based cost of flood insurance or the full actuarial rate for single-family homes under Risk Rating 2.0, using data from single-family policies renewed before Sept. 30, 2022. These exhibits will be updated and revised once data is available for all policyholders who have renewed their policies under Risk Rating 2.0. For more information about the switch from the legacy rating methodology to Risk Rating 2.0 visit FEMA.gov.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s