About Our Association

My photo
The Nebraska Floodplain and Stormwater Managers Association (NeFSMA) is an active organization of over 100 members representing over 50 organizations. NeFSMA pursues multiple purposes including: 1.)promote public awareness of floodplain and stormwater management; 2.) promote the professional status of floodplain and stormwater management and secure all benefits resulting there from; 3.) promote cooperation and information exchange between individuals and entities concerned with floodplain and stormwater management; 4.) keep individuals concerned with floodplain and stormwater management well informed through educational and professional seminars and to provide a method for dissemination of information, both general and technical; 5.) inform and educate concerned individuals of pending floodplain or stormwater legislation, funding and other related management matters. Please browse our website to learn more about NeFSMA at www.nefsma.net. If you are interested in joining, either contact one of the board members or complete the membership form.

Monday, April 11, 2011

ASFPM Alert - Key Bulletins Issued on Changes in NFIP

On April 1, the NFIP issued two important bulletins regarding changes in the flood insurance program.  The first discusses the changes that will occur in the flood insurance program as of October 1, 2011.  The second discusses a change in how the community's substantial damage percentage can be used to trigger an ICC claim if its ordinance has it set at a number less than 50%.

The following are some highlights:

Changes to the flood insurance program effective October 1, 2011 (Bulletin #W-11020):
  • Premiums go up on average just 4%
    • Biggest increase is pre-FIRM V zones at 7%
    • Standard X, A99, AR, and post/pre-FIRM AE/A# go up 5% (As go up 6%)
    • PRPs are left alone
  • Some new elevation rating requirements for AH, AO, and unnumbered A zones
  • New documentation requirements for applications for buildings in map panels where there are also CBRS and OPAs (to help avoid finding out at claim time that the property is in a CBRS area and is not eligible for flood insurance!!).
New NFIP Policy Issuance (01-2011) regarding ICCs and using the community's substantial damage value (Bulletin #W-11021):
  • Effective April 1, 2011, ICC claims can now be adjusted using a threshold contained in the State's or community's Floodplain Management Ordinance that has been adopted and is uniformly enforced prior to the loss by the State or community that may be lower than 50% of the market value of the building or structure at the time of loss.  ASFPM is especially pleased that FEMA has issued this guidance as it was an important element of the 2004 Reform Act that ASFPM supported.
These two bulletins can be found on the Nation Flood Insurance Program page under the National Policy and Programs menu on the ASFPM website.

If you have any questions or comments, please email them to the ASFPM Insurance Committee Co-Chairs:

Gary Heinrichs                              Bruce Bender
Wisconsin DNR                            Bender Consulting Services
gary.heinrichs@wisconsin.gov      babender@cox.net
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)