Two-Year Preferred Risk Policy (PRP) Eligibility Extension A National Flood Insurance Program Self-Study Learning Module for Community Officials

Lesson One The Basics PRP Background – A Low Risk Rating Structure – -Moderate-Low Risk Flood Zones B, C, D and X Zones – Standard Flood Insurance Policy Dwelling Form – Favorable Loss History

The PRP Eligibility Extension Expanding the PRP – Eligibility Criteria – Risk Likelihood of Loss – Special Flood Hazard Area – Map Changes – Insurance Concept The lower the risk, the lower the insurance premium.

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Expanding the PRP, continued Reasons for Expanding the PRP Eligibility Criteria – Cost Savings Transitioning to Standard Rating – Mandatory Purchase Regulatory Mandate – Buying Time Time to Make Changes

Expanding the PRP, continued How the Process Works – Notify – Validate – Offer – Prepare Property Owner

Expanding the PRP, continued Why Maps Change – Aging Infrastructure – Development – Changes to Topography – Historical Data and New Technology

Expanding the PRP, continued The Impact Revised Flood Maps Have on NFIP Flood Insurance – Newly Designated Flood Zones – High-Risk Property – Grandfathering – Positive of Negative? – Be A Hero

Lesson Two Two-Year PRP Eligibility Extension Period How the Two-Year Extension is Determined – Primary Responsibility Insurance Agent – Teamwork Floodplain Manager Insurance Agents

Eligibility Period, continued How the Two-Year Extension Period is Determined – Either January 1, 2011 or the effective date of the map revision, whichever is later – Map revision is between October 1, 2008 and December 3, 2010 – Map revision on or after January 1, 2011 – New policy, second year of extension

Lesson Three – Notification and Documentation Who Notifies – Write-Your-Own – Direct Side Documentation – LOMA – LOMR – LODR – Recent Map – Current and Previous Map – Letter – Elevation Certificate – Flood Zone Determination New 2-Year PRP Eligibility Extension New 2-Year PRP Eligibility Extension

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Lesson Four - Benefits Cost Savings Buys Time – Community and Insured Education – Risk – Property owners Prepare and Protect

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Module Summary The Basics What You Need to Know Acceptable Documentation Congratulations! Youve completed the module!

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