Community bonded during historic 2011 Missouri River flood
ALEX KAUTZMAN, SAM NELSON, JACK DURA, TRAVIS SVIHOVEC, AMY R. SISK, The Bismarck Tribune
June 27, 2021
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BISMARCK, N.D. (AP) John Warford realized the threat to his city when he saw it from the air.
Warford was mayor of Bismarck 10 years ago when the Missouri River overflowed its banks from Montana to Missouri.
Warford recalls taking a helicopter ride with Maj. Gen. David Sprynczynatyk, adjutant general of the North Dakota National Guard at the time, and seeing just how high the river was.
“I always called the Missouri the crown jewel of North Dakota; it’s our best resource,” he said. “To look at this resource raging out of control from the air, your face pales. Your heart almost stops when you see the extent of the damage.”
Monroe County property owners have until Thursday, June 3, to appeal proposed changes to the federal flood maps, which are used to determine the minimum elevation needed for construction and
Infrastructure, Risk, and Partisanship – Proposed Reform to the National Flood Insurance Program
Thomas Wade
Executive Summary The National Flood Insurance Program (NFIP) is the only broadly purchased flood insurance in the United States, but the program is expensive, cumbersome, and outdated, and owes $20.5 billion to Treasury. In April 2021 the Federal Emergency Management Agency announced that it would be updating the NFIP’s risk assessment procedures to bring premiums in line with actual risks posed on an individual home House Financial Services Committee Democrats simultaneously recirculated an updated version of the 2019 proposed legislation that had bipartisan support, only this time Democrats included rate hike caps and $20 billion in forgiveness of the NFIP’s debt without consultation with Republican counterparts.
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On April 1, 2021, FEMA released its highly anticipated flood insurance rating methodology, Risk Rating 2.0-Equity in Action.
FEMA first announced “Risk Rating 2.0-Equity in Action” in March 2019 as an effort to improve flood maps and offer rates that are fair, easy to understand, and more aligned with a property’s unique flood risks. The new rating system was initially set to be implemented on October 1, 2020. FEMA extended the date by a year to broaden its analysis of the proposed rating system.
The NFIP currently uses a rating structure originally developed in the 1970s that looks at flood zones across the country and calculates expected losses of groups of structures with similar flood risk and similar key structural aspects. The same rate is assigned to all policies in a group. Despite the evolution of technology and FEMA’s expanded understanding of flood risks, updates to the rating methodology have not occu
How FEMA s new flood insurance pricing will impact your wallet
Nashville Tennessean
For an estimated 72% of Tennesseans who hold National Flood Insurance Program policies, premiums are about to go up.
The NFIP, run by the Federal Emergency Management Agency, is overhauling its methodology for setting flood insurance prices for the first time in about 50 years. Starting Oct. 1, premiums for new NFIP policies will be based on individual properties flood risk and the estimated cost of rebuilding those properties if flood damage occurs.
This model has been standard in the insurance industry for years, but is only now being adopted by the NFIP. FEMA officials and insurance experts say the switch to Risk Rating 2.0 will make the program more financially sound, adaptable and equitable.