FEMA officially announces Risk Rating 2.0 for Flood Risks.

FEMA officially announced Risk Rating 2.0 last Thursday as a change to the National Flood Insurance Program’s risk rating methodology, affecting new policies beginning Oct. 1, 2021 and renewals after April 1, 2022. These changes present a dramatic shift in pricing for risk and insurance professionals to analyze, especially as FEMA’s flood map data evolves.…