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The original item was published from 10/1/2021 4:08:16 PM to 9/25/2022 12:00:11 AM.

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Federal Government

Posted on: September 24, 2021

[ARCHIVED] National Flood Insurance Program

Risk Rating 2.0, the National Flood Insurance Program (NFIP) rating system, is scheduled to go into effect on October 1.
 
This week, a bipartisan group of coastal Senators, including New Jersey’s Senators Bob Menendez and Cory Booker in a letter to FEMA Administrator Deanne Criswell urged a delay in impementing Risk Rating 2.0 because of recent weather events and that the actuarial premiums indicate a steep rise in premiums for homeowners throughout the country.
 
 We will continue to monitor this situation and appraise accordingly.
 
Contact: Paul Penna, Legislative Analyst, ppenna@njlm.org, 609 695-3481, x110.

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