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 …

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PIA Calls for Increased Funding for Flood Risk Mapping

PIA recently sent letters, along with a coalition of stakeholder groups, to U.S. House and Senate appropriators to advocate for a significant increase in funding for the Federal Emergency Management Agency (FEMA) flood risk mapping program in fiscal year 2022 (FY 2022). The flood risk mapping program funds federal flood mapping, which shows how likely …

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FEMA Makes Available More Agent Training Sessions on Risk Rating 2.0

The National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA), is the primary source for flood insurance in the United States. Over the past few years, FEMA has been updating the NFIP’s risk rating process using a new methodology known as Risk Rating 2.0 (RR 2.0). It is scheduled …

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Risk Rating 2.0 Dominates Second Senate Hearing on NFIP Reauthorization

On June 17, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a second hearing on the reauthorization of the National Flood Insurance Program (NFIP). The first hearing was held in May. The hearing featured the testimony of David I. Maurstad, the Deputy Associate Administrator of the Federal Insurance and Mitigation Administration (FIMA), …

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PIA Releases 2021 Issues of Focus for Advocacy Day

PIA has released its 2021 Issues of Focus in preparation for its upcoming Advocacy Day, formerly known as the Federal Legislative Summit (FLS). PIA members will highlight these issues during their meetings with their elected representatives on Advocacy Day. PIA deploys its grassroots advocacy resources throughout the year on countless issues of importance to independent insurance agents. …

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NFIP Risk Rating 2.0 Released

On April 1, the Federal Emergency Management Agency (FEMA) unveiled changes, commonly referred to as Risk Rating 2.0, to the National Flood Insurance Program (NFIP). Risk Rating 2.0 is meant to provide more specific, accurate information about the flood risk associated with properties covered by the NFIP. Materials released by FEMA show that Risk Rating …

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Commissioner Spotlight: South Carolina Director Ray Farmer

In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the South Carolina Department of Insurance (SCDOI), Director Ray Farmer. Dir. Farmer served as vice president of the American Insurance Association (AIA, now APCIA), a trade association for insurance carriers. He spent the early part of his regulatory career as …

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PIA Urges Funding for Flood Mapping Program

PIA National is actively engaged on numerous COVID-19-related legislative initiatives; at the same time, we continue to advocate on many other issues important to PIA members. As such, last week, we were pleased to sign on to a coalition letter urging congressional appropriators to provide strong funding for the Flood Hazard Mapping and Risk Analysis Program …

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Several PIA Priorities Included in Year-End Funding Package

This week, Congress will consider a federal government funding package that includes three of PIA National’s most important policy priorities: an extension of the National Flood Insurance Program (NFIP) until September 30, 2020, the permanent repeal of the Cadillac Tax, and an extension of the terrorism risk insurance program (referred to as TRIA) through the …

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Congress Extends Flood Insurance Program to December 20

Today the U.S. Senate passed H.R. 3055, a short-term continuing resolution (CR) to fund the federal government until December 20. Important for PIA members, this bill includes the extension of the National Flood Insurance Program (NFIP) to the same date. See PIA National’s press release here. The NFIP is now on its 14th short-term extension since …

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