Legislation introduced to address concerns around FEMA flood insurance pricing transparency and premiums

-
BlogOn March 2, Sen. John Kennedy (R-La.) introduced two bills to cap flood insurance premiums and increase transparency around the Federal Emergency Management Agency’s new risk-rating methodology, known as Risk Rating 2.0.Legislation introduced to address concerns around FEMA flood insurance pricing transparency and premiums
- Gulf Coast Senators introduce legislation to provide more transparency on FEMA's new Risk Rating 2.0 methodology and address rising premium increases
- Counties call for legislation that demand clarification around FEMA’s risk rating methodology and keep flood insurance premiums affordable for residents
-
Blog
Legislation introduced to address concerns around FEMA flood insurance pricing transparency and premiums
On March 2, Sen. John Kennedy (R-La.) introduced two bills to cap flood insurance premiums and increase transparency around the Federal Emergency Management Agency’s (FEMA) new risk-rating methodology, known as Risk Rating 2.0. Additionally, Sens. Bill Cassidy, M.D. (R-La.) Cindy Hyde-Smith (R-Miss.), Ted Cruz (R-Texas) and John Kennedy (R-La.) introduced the Homeowner Flood Insurance Transparency and Protection Act which would also require FEMA to address concerns about Risk Rating 2.0.
FEMA began its rollout of Risk Rating 2.0 in October 2021 despite warnings that it would increase premium costs for policyholders and that price increases could drive many to cancel their flood insurance coverage. Sen. Kennedy’s Risk Rating 2.0 Transparency Act would require FEMA to publish an explanation of how the agency is determining flood insurance prices under Risk Rating 2.0. Additionally, FEMA would be responsible for creating an online database for policyholders under the National Flood Insurance Program (NFIP) to provide information on premium rates. The Flood Insurance Affordability Act would lower the statutory limit on annual premium increases on primary resident homeowners under Risk Rating 2.0 from the current limit of 18 percent to 9 percent.
Sens. Cassidy and Smith-Hyde’s Homeowner Flood Insurance Transparency and Protection Act would allow policyholders to retain previous NFIP premium rates prior to the implementation of Risk Rating 2.0 until FEMA addresses several concerns around the development of their risk rating methodology.
NACo has called for further transparency from FEMA about the impacts of Risk Rating 2.0 and will continue to advocate for passage of legislation that would ensure our residents are able to afford their premiums.
On March 2, Sen. John Kennedy (R-La.) introduced two bills to cap flood insurance premiums and increase transparency around the Federal Emergency Management Agency’s new risk-rating methodology, known as Risk Rating 2.0.2023-03-14Blog2023-03-14
On March 2, Sen. John Kennedy (R-La.) introduced two bills to cap flood insurance premiums and increase transparency around the Federal Emergency Management Agency’s (FEMA) new risk-rating methodology, known as Risk Rating 2.0. Additionally, Sens. Bill Cassidy, M.D. (R-La.) Cindy Hyde-Smith (R-Miss.), Ted Cruz (R-Texas) and John Kennedy (R-La.) introduced the Homeowner Flood Insurance Transparency and Protection Act which would also require FEMA to address concerns about Risk Rating 2.0.
FEMA began its rollout of Risk Rating 2.0 in October 2021 despite warnings that it would increase premium costs for policyholders and that price increases could drive many to cancel their flood insurance coverage. Sen. Kennedy’s Risk Rating 2.0 Transparency Act would require FEMA to publish an explanation of how the agency is determining flood insurance prices under Risk Rating 2.0. Additionally, FEMA would be responsible for creating an online database for policyholders under the National Flood Insurance Program (NFIP) to provide information on premium rates. The Flood Insurance Affordability Act would lower the statutory limit on annual premium increases on primary resident homeowners under Risk Rating 2.0 from the current limit of 18 percent to 9 percent.
Sens. Cassidy and Smith-Hyde’s Homeowner Flood Insurance Transparency and Protection Act would allow policyholders to retain previous NFIP premium rates prior to the implementation of Risk Rating 2.0 until FEMA addresses several concerns around the development of their risk rating methodology.
NACo has called for further transparency from FEMA about the impacts of Risk Rating 2.0 and will continue to advocate for passage of legislation that would ensure our residents are able to afford their premiums.

About Brett Mattson (Full Bio)
Legislative Director – Justice & Public Safety | Gulf Coast Counties & Parishes Coalition
Brett joined NACo in May of 2018 and serves as legislative director for justice and public safety. In this role, Brett staffs NACo’s Justice and Public Safety Policy Steering Committee and works with county officials across the country to set organizational priorities and policies for justice and public safety issues that affect counties.More from Brett Mattson
-
Webinar
BRECC National Network: Shaping your Coal Community’s Approach to Economic Diversification
Mar. 23, 2023 , 3:00 pm – 4:00 pmThe BRECC National Network’s learning session, "Shaping your Coal Community’s Approach to Place-Based Economic Diversification," outlined a Place Value asset-based framework for creating more diverse and resilient economies. -
Press Release
National Association of Counties Responds to Congressional Challenge to WOTUS Rule
NACo today issued a statement in response to the U.S. House of Representatives passing a Congressional Review Act (CRA) joint resolution of disapproval challenging the Waters of the United States (WOTUS) rule issued in December 2022. -
Blog
Addressing Disparities in STI Screening With At-Home Testing
Let's work together to increase access to STI screening and care through innovative solutions such as at-home testing and improve health equity for all. -
Blog
Participants announced to receive specialized technical assistance through NACo’s Building Resilient Economies in Coal Communities Initiative
The National Association of Counties (NACo) proudly announces the final selection of communities and local leaders to participate in the Building Resilient Economies in Coal Communities (BRECC) initiative, a Community of Practice supported by the U.S. Economic Development Administration. -
Blog
What have we learned about governing during the pandemic era?
“We now have tools for county governments to continue to engage a larger constituency and improve service delivery to meet their needs, specifically considering using digital interface to engage with residents.” -
County News
Erie County, N.Y. faces deadly ‘Blizzard of the Century’
County staff from Erie County, and elsewhere offered lifelines to snowed-in residents during a December blizzard.
-
Basic page
Resilient Counties Initiative
The NACo Resilient Counties Initiative builds leadership capacity to identify and manage risk, and prepare counties to become more flexible and responsive to system shocks and stresses. It has a holistic approach to resilience, examining social and economic resilience, sustainability and disaster management.pagepagepage<p>Hurricanes, wildfires, economic collapse, and other disasters can be natural or man-made, acute or long-term, foreseeable or unpredictable.
-
Reports & Toolkits
Implementing Infrastructure Investments at the County Level: The Bipartisan Infrastructure Law (P.L. 117-58)
As intergovernmental partners, counties play a key role in ensuring the successful interpretation and implementation of the BILReports & Toolkitsdocument100710:00 amReports & Toolkits<table border="1" cellpadding="1" cellspacing="1" style="width:100%" summary="call-out transparent jump">
<tbody>
<tr>
<td>
Contact
-
Legislative Director – Justice & Public Safety | Gulf Coast Counties & Parishes Coalition(202) 942-4234
-
Legislative Associate(203) 402-9494
Related Posts
-
BlogAddressing Disparities in STI Screening With At-Home TestingMar. 1, 2023
-
BlogParticipants announced to receive specialized technical assistance through NACo’s Building Resilient Economies in Coal Communities InitiativeFeb. 24, 2023
-
BlogWhat have we learned about governing during the pandemic era?Jan. 27, 2023
Related Resources
-
Press ReleaseNational Association of Counties Responds to Congressional Challenge to WOTUS RuleMar. 9, 2023
-
Reports & ToolkitsImplementing Infrastructure Investments at the County Level: The Bipartisan Infrastructure Law (P.L. 117-58)Oct. 7, 2022
-
Reports & ToolkitsARPA Impact Report: An Analysis of How Counties are Addressing National Issues With Local InvestmentsJul. 18, 2022
More From
-
Implementing Infrastructure Investments at the County Level: The Bipartisan Infrastructure Law (P.L. 117-58)
As intergovernmental partners, counties play a key role in ensuring the successful interpretation and implementation of the BIL
Learn More