![]() Attachment B – Updated Rate Tables for the Rating and Condominium Sections of the NFIP Flood Insurance Manual Effective April 1, 2016 Attachment A – Summary of the NFIP April 2016 Program Changes Please follow this link for the detailed attachments regarding the upcoming program changes: Clarifications concerning reformation of coverage and Elimination of subsidies for certain pre-Flood Insurance Rate Map properties with policies that lapse and are reinstated Revised PRP/Newly Mapped Application form showing the premium calculations ![]() New base premium tables, replacing the previous premium tables, for PRPs and policies rated under the Newly Mapped procedure New premium increases and rating procedures for PRPs, and policies rated under the Newly Mapped procedure Increased Federal Policy Fee for all policies and increased Reserved Fund Assessment for Preferred Risk Policies (PRPs) Implementation of 25 percent rate increases for policies covering non-residential business properties Updated premium rates conforming to HFIAA premium rate caps Highlights of the program changes effective April 1, 2016, include the following: The changes will require modifications to the NFIP Flood Insurance Manual, Transaction Record Reporting and Processing Plan, and the Edit Specifications document. Many of these changes result from continued implementation of the Homeowner Flood Insurance Affordability Act of 2014 and the Biggert-Waters Flood Insurance Reform Act of 2012. The purpose of this memorandum is to provide notification of the changes NFIP will implement effective April 1, 2016. Wright, Deputy Associate Administrator for Insurance and Mitigation, Federal Insurance and Mitigation Administration MEMORANDUM FOR: Write Your Own Company Principal Coordinators and the National Flood Insurance Program Direct Servicing AgentįROM: Roy E. ![]()
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