Plus, how one Florida community improved its flood risk
FEMA insists that a vast majority of federal flood insurance policies under the Risk Rating 2.0 system have only seen their premiums increase by under $10 per month or decline, one Florida community hit hard by flooding has lifted a moratorium on new building, and Florida is now accepting applications for a flood mitigation program for both inland and coastal communities. It’s all in this week’s Flood Digest.
Risk Rating 2.0: The U.S. Justice Department last week answered the lawsuit filed by Florida and nine other states in June that attempts to stop FEMA’s new flood insurance rating system. Justice Department lawyers urged a federal judge to dismiss the lawsuit and the states’ request for a preliminary injunction. They argued that Risk Rating 2.0: Equity in Action is designed to make the heavily in-debt National Flood Insurance Program actuarially sound and better reflects the risks of each program versus the old flood risk map system that saw inland policyholders subsidizing the rates of greater-risk coastal residents. Justice Department attorneys said the plaintiffs had exaggerated the “skyrocketing costs” noted in the lawsuit. They said since the changes fully took effect this year, 19% of premiums decreased and 70% increased by less than $10 a month. Floridians represent 1.7 million of the program’s 4.7 million policyholders.
Seminole Co. Fire Department rescues flooded Winter Springs residents after Hurricane Ian, September 28, 2022. Courtesy, Seminole Co. FD
Winter Springs Mitigation: The central Florida town of Winter Springs has lifted its new construction moratorium that was put in place after the devastating flooding of Hurricane Ian last September. Ian dumped up to 16 inches of rainfall in 17 hours on the town of 39,000 residents. Fewer than 500 of them had National Flood Insurance Program policies. Since then, the small city has adopted more stringent flood rules, in line with Florida Department of Transportation drainage regulations. The city was featured in Forbes’ recent article “Does Everybody Need Flood Insurance Now?”
Resilient Florida Grant Program: The Florida Department of Environmental Protection is accepting grant applications through the Resilient Florida Grant Program for projects to prepare coastal and inland communities for the impacts of flooding and storm surge. The online grant application portal closes on September 1, 2023.
LMA Newsletter of 8-21-23
