Government Affairs | Industry News
National flood insurance reforms phase out subsidies
More than 80 percent of NFIP policyholders are already paying the full-risk actuarial rate and will not be affected by the gradual subsidy phase-out. Some of the rest (i.e., second and vacation homeowners) started to see their subsidized rate phase-out earlier this year; their rate will continue to increase at about 25 percent per year until the policies meet the full-risk rate....
Aug. 30, 2013 • 4 min. read