National Flood Insurance Program (NFIP) April 1, 2016 Flood Insurance Changes

2 Agenda  Premium Increases and Surcharges  Clarification on Reformation of Coverage  Non-Residential Business Properties  Reformatted Rate Tables for PRP and Newly Mapped  Subsidy Elimination for Lapsed Policies  Re-Underwriting Requirement  Changes to the Applications and Declarations Page  Steps to follow after a flood loss

3 Premium Increases and Surcharges  HFIAA Rate Caps  Excluded from the Rate Caps Probation Surcharge Federal Policy Fee HFIAA Surcharge  Other Increases Reserve Fund Assessment Federal Policy Fee

4 Clarification on Reformation of Coverage  Effective April 1, 2016 Policy Issuance is revoked  Reformation of coverage applies only when a misrating is the result of an incorrect determination of a flood zone or base flood elevation (BFE)  Current and future reformations only

5 Non-Residential Business Properties  Section of Biggert-Waters 2012 (BW-12)  Collection of additional data began November 1, 2015  Agent to supply additional information  Renewal offers  Application modification  Re-underwriting

6 Reformatted Rate Tables  New Rating Methodology for Preferred Risk Policies and Newly Mapped into the Special Flood Hazard Area (SFHA) Base Premium Multiplier Reserve Fund Assessment Add ICC Premium Add on fees and surcharge

7 New Rating Structure for PRP and Newly Mapped After Map Revision Date Rating Options Newly Mapped 10/01/2008-4/01/2015 Grandfathering—Options 1. Continuous Coverage 2. Built in Compliance Newly Mapped 4/01/2016

8 Subsidy Elimination for Lapsed Policies  BW12 Sec and HFIAA Section 3 prohibits Pre-FIRM subsidized premium for lapsed policy, except for no longer required  Prohibit Pre-FIRM subsidized for NFIP lapsed policies where premium received after 90 days from expiration date  Transfer of NFIP policy  Non-NFIP policy

9 Re-Underwriting Requirement  October 1, 2016 renewal  Review policies to determine if rating is correct  Grandfather vs Newly Mapped vs Current Map  Data usage  Corrections

10 Changes to the Applications and Declarations Page  Application Newly Mapped/PRP Business Class Lapsed  Declarations Page

11 What to Do After a Flood  Contact Your Agent or Company Representative to Report Your Loss  Separate Your Property  Make a List of Damaged Contents  List Areas of Structural Damage

12 FOUR STEPS TO APPEALING YOUR CLAIM  Talk with your adjuster, who has more knowledge about your claim than anyone.  If you are not satisfied with the adjuster’s answers, or do not agree with decisions, get contact information for the adjuster’s supervisor.  If the adjuster’s supervisor can’t resolve your issues, contact the insurance company’s claim representative. Ask your insurance agent or your insurance company representative for assistance.  If you still have questions or concerns after following steps one through three, contact the Federal Emergency Management Agency (FEMA).

13 DISASTER ASSISTANCE  FEMA Helpline  Contact the FEMA Helpline if you have questions about:  The help offered by FEMA.  How to apply for assistance.  Information in your account.  Call 7 a.m. to 11 p.m. ET, 7 days a week:  FEMA ( )  You can also (Get a response in 1 to 2 business  Or write to: FEMA P.O. Box Hyattsville, MD

14 Online Training – FEMA’s Emergency Management Institute (EMI) You must obtain a student ID at: Listings available at FloodSmart.gov FEMA/bulletins/114f3a5 Sign up at: FEMA/subscriber/new?topic_id=USDHSFEMA_ FEMA/subscriber/new?topic_id=USDHSFEMA_ 212

15 FREE Online Training: FEMA Registration Assistance:

16 Resources  Write Your Own Bulletins 7/W html  Flood Insurance Manual manual manual  FloodSmart.gov

17 Deb Gauthier Kristin Minich -NFIP iService Chris Parsons Ally Bishop-NFIP iService Diana Herrera Erin May - NFIP iService Edie Lohmann Adam Lizarraga – NFIP iService David Schein Annette Burris NFIP iService Mark Lujan Tom Kustelski-NFIP iService Carl Watts-NFIP iService Janice Mitchell David Clukie-NFIP iService Lynne Magel-NFIP iService Richard Sobota Walter McGuckin-NFIP iService Kim Rizzo Walter McGuckin-NFIP iService Bob Desaulniers Tom Young-NFIP iService