As we approach the Oct. 1, 2021 implementation of Risk Rating 2.0 (RR 2.0): Equity in Action, FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP), FEMA is pleased to share the most recent drafts of our RR 2.0 guidance documents.
The RR 2.0 Flood Insurance Manual outlines the NFIP underwriting policies and processes to enable effective and consistent program implementation within the new pricing framework. The RR 2.0 Industry Transition Memo outlines how a policy rated with the legacy rating plan transitions to the new pricing methodology.
- RR 2.0 NFIP Flood Insurance Manual June DRAFT - Sections 1-6
- RR 2.0 NFIP Flood Insurance Manual June DRAFT - Appendices
- Risk Rating 2.0 Industry Transition Memorandum
FEMA is working to finalize the RR 2.0 guidance documents by September 2021 to further assist the insurance industry in their implementation efforts. Once finalized, the documents will be posted to FEMA.gov and we will notify industry.
For a background and additional information about FEMA’s new pricing methodology, please visit www.fema.gov/flood-insurance/work-with-nfip/risk-rating.