9/24/2023 0 Comments Free full risk 2![]() ![]() Risk Rating 2.0 enables FEMA to set rates that are fairer and ensures rate increases and decreases are both equitable.įEMA is building on years of investment in flood hazard information by incorporating private sector data sets, catastrophe models and evolving actuarial science. Risk Rating 2.0 is not just a minor improvement, but a transformational leap forward. This approach does not incorporate as many flooding variables as Risk Rating 2.0. Since the 1970s, rates have been predominantly based on relatively static measurements, emphasizing a property’s elevation within a zone on a Flood Insurance Rate Map (FIRM). Purchasing flood insurance is the first line of defense against flood damage and a step toward a quicker recovery following a flood. FEMA is committed to building a culture of preparedness across the nation.
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