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Flood Insurance Alert: Major Changes Began April 1

from PIA Western Alliance

Changes in regulations for the National Flood Insurance Program (NFIP) began on April 1st. The regs continue the implementation of the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014. The point is to make the NFIP more actuarially sound via premiums in line with true risk. So now renewals will require premium increases, other fees and Reserve Fund Assessment changes. There are lots of other changes. more

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