FEMA Working To Change Flood Insurance Pricing, Surges Expected For FL

With the National Flood Insurance Policy program swimming in debt, Federal Emergency Management Agency (FEMA) officials are working on a plan to switch how policies are priced.

The proposal is, in 2020, to base pricing on risk-based assessment rather than average historical losses and flood maps.

That is expected to mean that premium price will surge in South Florida and other coastal-communities.

The structure change would likely need Congress' approval.

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