The Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP) have changed the way flood insurance policies are rated and priced. In response, the Pima County Regional Flood Control District has teamed up with the City of Tucson, Town of Marana, and the State of Arizona Insurance Office to organize flood insurance meetings to help area residents better understand how their policies will be affected.
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The NFIP’s current rating methodology has not changed since the 1970s and does not consider individual flood risk and underlying home values. Since then, technology, access to data, and the understanding of flood risk have evolved. By leveraging industry best practices and current technology, FEMA can deliver rates that are easier to understand and better reflect a property’s unique flood risk.
Risk Rating 2.0 has fundamentally changed the way FEMA rates a property’s flood risk and prices insurance by incorporating common sense variables (e.g., more types of flood risk and distance to flooding source) into the rating methodology. It also pairs state-of-the-art industry technology with the NFIP’s mapping data to establish a new risk-informed rating plan.
FEMA seeks to achieve more complete recovery by accurately and clearly communicating flood risk and how it is reflected in flood insurance costs, providing property owners with information that allows them to make more informed decisions on purchasing flood insurance and reducing flood risk.
Read the District's flood insurance
brochure for more information.
Meeting Details:
Tuesday, May 17, 2022 - 5 to 7 p.m. - Microsoft Teams meeting
Join on your computer or mobile app Click
here to join the meeting or call in (audio only) +1 213-293-2303 - Phone Conference ID: 442 892 828#
Wednesday, May 25, 2022 - 9:30 to 11:30 a.m. - Microsoft Teams meeting
Join on your computer or mobile app Click
here to join the meeting or call in (audio only) +1 213-293-2303 - Phone Conference ID: 125 641 954#