Legislation

Federal

FEMA: Changes Coming for NFIP (Flood Insurance)

FEMA, the Federal Emergency Management Agency, is updating the National Flood Insurance Program (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0 and it will go into effect October 1, 2021.

Their original method was with a product called Flood Insurance Rate Maps (FIRM).  This methodology has not changed in over 50 years.

With Risk Rating 2.0, FEMA estimates that 14% of Texas residents with an existing flood insurance policy will see an immediate decrease in their flood insurance premium; 79% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium that could range from $0 to $10 per month; 3% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium of $10 to $20 per month; and 4% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium greater than $20 per month.

We do not yet know how Risk Rating 2.0 will impact flood insurance prices in our area.  We do not know which category of premium change will include us.  However, if you already have flood insurance, you are grandfathered into how fast your flood insurance premium can increase.  It is federally mandated that a flood insurance premium cannot increase by more than 18% per year.

Therefore, we encourage homeowners in Ft. Bend County to get flood insurance. Contact your home insurance provider.  Since a flood insurance policy takes 30 days to go into effect, you must purchase your policy by September 1, 2021, for your policy to become effective prior to the effective date of Risk Rating 2.0.

Additional information regarding Risk Rating 2.0 can be found at https://www.fema.gov/flood-insurance/work-with-nfip/risk-rating 

National Association of Flood & Stormwater Management Agencies (NAFSMA)
National Waterways Conference (NWC)

NWC’s Regional Spotlight

June 1-2, 2021 (Virtual)

On June 1-2, 2021, the National Waterways Conference (NWC) will be holding a two-day virtual meeting for interested stakeholders and the U.S. Army Corps of Engineers (USACE). The sessions will work to educate on USACE’s civil works functions, discuss agency processes and delve deeper into how to develop a strong working relationship with the agency.

REGISTRATION: Registration will be free to members and non-members for this meeting. The most up-to-date agenda is available through the following link: https://waterways.org/regional-spotlights.

To register for this free event, click here.

News Alert – Senate EPW Advances America’s Water Infrastructure Act 2020

State