Helping PIA Members Decode Risk Rating 2.0

If you’ve been following the blog for a while, you know that the National Flood Insurance Program (NFIP), the primary source for flood insurance in the United States, is scheduled to debut its new pricing methodology, known as Risk Rating 2.0, later this year. Risk Rating 2.0 will assign a level of risk to each individual property in the program, providing more specific and accurate information about a property’s flood risk than the current methodology provides.

Naturally, independent agents who sell flood insurance through the NFIP have questions about Risk Rating 2.0, and we’re here to help. PIA members are invited to join us for a free webinar this coming Thursday, July 22 at 1 PM Eastern to learn how Risk Rating 2.0 differs from the NFIP’s current pricing methodology, how independent agents’ responsibilities will change in the Risk Rating 2.0 environment, and when and how Risk Rating 2.0 is being implemented.

Past PIA National president Tim Russell, CPCU, will discuss all this and more. As the current chair of the Flood Insurance Producers National Committee (FIPNC), Tim has had a courtside view of the development of Risk Rating 2.0 over the past few years, and he’ll share his expertise in this hour-long webinar. Tim will be joined by PIA counsel and director of regulatory affairs, Lauren Pachman, who has been working on the NFIP with Congress and the Federal Emergency Management Agency (FEMA) since 2006.

Please note that the webinar is only open to PIA members. It is not affiliated with FEMA and is not eligible for continuing education credits. To register for the PIA webinar featuring Tim Russell and Lauren Pachman, please click here.

As you may have seen, FEMA has also been offering agent-specific training sessions over the past month or so. There are still three more FEMA sessions in July, and August dates are now available. If you are a PIA member, and you would like information about how to register for the August FEMA training sessions, please contact Lauren Pachman at Lpachman@pianational.org for details.

PIA is in continuing discussions with FEMA regarding the rollout of RR 2.0 and encouraging FEMA to intensify its support for its agent salesforce during this transition.