FEDERAL/NATIONAL NEWS For an update of the latest disaster declarations: CLICK HERE For information on Flood Insurance Reform – Rates and Refunds: CLICK HERE
Advisor Update FEMA Updates for FMA Board: December 2021 •
Unprecedented funding for mitigation is being made available with more possible from BuildBack-Better legislation. Earlier this Fall FEMA announced a Hazard Mitigation Grant Program award of $3.46B nationwide (including $484M for California), $1B for the Building Resilient Infrastructure and Communities program (BRIC), and $0.2B for Flood Mitigation Assistance (FMA). The recent infrastructure legislation added $3.5B for FMA grants over five years, another $1B for BRIC, and $1.6B for dam safety/removal ($725M for FEMA’s dam safety program, $400M for NOAA’s restoration program, $200M for USFWS, $115M for USACE, $75M for WIFIA, $75M for FEMA’s high hazard dams program, and $10M to USFS). This is a great opportunity for communities across the nation to reduce disaster suffering.
FMA NEWS
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Congress extended the National Flood Insurance Program until February 18, 2022, and updated rates took effect October 1st for new policyholders. Flood insurance renewals start transitioning the updated rates on April 1, 2022. Detailed information on Risk Rating 2.0 is online. The October 2021 Flood Insurance Manual has been released. New premiums better account for flood risk including home value, with more expensive buildings costing more to insure. The mandatory purchase requirement nor floodplain management aspects are impacted by insurance rating changes.
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A request for information has been issued for the National Flood Insurance Program floodplain management standards and program impacts on endangered species and their habitats. The comment period has been extended to January 27, 2022. Details are in the Federal Register.
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GAO’s most recent report on flood maps is online and recommends that FEMA develop an updated multiyear plan for the Risk MAP program and assess the usefulness of nonregulatory products.
