Next month, NFIP changes will take effect in compliance with the Biggert-Waters Flood Insurance Reform Act and the Homeowners Flood Insurance Affordability Act of 2014 (HFIAA).
In an effort by FEMA to make the NFIP more actuarially sound, the April 1 change will raise premiums based on updated rate maps and premium multiplier tables to address mounting flood losses. To more accurately align rates with true-risk, premiums must go up - but what will this mean for policyholders and for you?
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Join Insurance Business on March 23 for Flood Risk Florida for important insight to this NFIP program change, and what it means for the future market. Due to demand, Insurance Business Masterclass has also announced Flood Risk Texas, which will bring together national leaders for perspectives on critical updates to the flood program, private market expansion and flood risk mitigation in Houston on May 11.
