from Contributed content on August 22, 2021
The Federal Emergency Management Agency (FEMA) is updating the National Flood Insurance Program (NFIP) risk assessment methodology. Known as Risk Rating 2.0, this is the first major update to the NFIP rating in nearly 50 years.
New risk assessments based on industry best practices will be used to update flood insurance tariffs. The new flood insurance tariffs will better reflect the real risks and be easier to understand. New contracts from October 1, 2021 and contracts that are renewed on or after April 1, 2022 are subject to the new rating method.
The San Francisquito Creek Joint Powers Authority and its member organizations invite you to attend a webinar presentation on the new FEMA Risk Rating 2.0 on Tuesday, August 24th, from 10:00 am to 11:00 am.
Register for the webinar
The city encourages you to participate as approximately 40% of Menlo Park policyholders receive a monthly premium cut for flood insurance and 51% of local policyholders receive an increase of less than $ 10 per month.
For more information, please visit the FEMA Risk Rating 2.0 website or contact Assistant Engineer Scott Jaw.