At this morning’s Insurance Committee meeting, the panel addressed issues surrounding NFIP’s recertification, insurance claims, flood maps, and flood risk rating. As a lakefront homeowner in Kissimmee, Florida, the information provided was personally relevant. After all, around 35% of NFIP flood policies are in Florida.
Updating the systems that rate the flood risk of homes impact flood insurance rates. A more sensible valuation of homes affect the premiums we pay on flood insurance. The good news is that there is a movement towards simpler flood risk ratings, floodplain maps, and FEMA’s claims process. NAR is fighting very hard to lobby for the long-term recertification of the National Flood Insurance Program. RPAC dollars are hard at work for our members and the communities we serve!