Last week, representatives from the Federal Emergency Management Agency (FEMA) held Open House events at several locations throughout the Valley to discuss the implications of the new floodplain map changes taking effect on October 16, 2013.
AAR interviewed Edith Lohmann, FEMA National Flood Insurance Program specialist and Patricia Rippe, FEMA Natural Hazards program specialist to discuss how these upcoming changes will affect homeowners; especially considering the rate increases due to the extension of the Biggert-Waters Flood Insurance Reform Act of 2012. Watch the interview here:
A couple things to note:
- FEMA reached out to the homeowners who are affected by these rate plan map changes via mail and invited them to the Open House events.
- Floodplain map changes vary from city to city, to get the most up-to-date information, please encourage homeowners to contact their city for more information on changes.
- If you’re looking for ways to talk to your past, present or future clients about rate changes, this is a great resource.
Where to find additional resources:
NAR created a podcast in August 2013 to offer specific guidance to members introducing flood insurance disclosure requirements, rates and rate increases.
NAR Activity Update – National Flood Insurance Program: http://www.ksefocus.com/billdatabase/clientfiles/172/4/1817.pdf
Additional links to information from FEMA:
Enjoy this post? Get the latest blog.aaronline.com posts sent to you by subscribing via email or RSS.