As our climate continues to change, so does the legal landscape of flood insurance. On October 1, 2021, FEMA implemented Risk Rating 2.0 in conjunction with the National Flood Insurance Program. Risk Rating 2.0 offers a new pricing methodology focused on leveraging improved technology to deliver more equitable rates to flood insurance policyholders. Risk Rating 2.0 will dramatically change the way the National Flood Insurance Program is administered, flood risks are assessed and premiums are set for flood insurance. This presentation will provide insight into Risk Rating 2.0 and other continuing developments in the world of flood insurance and case law. The presentation will also answer questions from policyholders on changes to their flood insurance coverage and provide critical insights to the attorneys, insurers and other professionals who are involved in real estate transactions in which flood insurance may be required.
Recorded at the Real Estate Institute in December 2022.