Although most flood insurance policyholders faced recentincreases, residents of Talbot County,on Maryland’s Eastern Shore bordering Chesapeake Bay, have receiveda reduction in their flood insurance premiums through the county’sincrease of various floodplain management measures encouraged bythe National Flood Insurance Program (NFIP).
The Federal EmergencyManagement Agency (FEMA) oversees the NFIP, which administersthe Community Rating System (CRS), a voluntary,incentive program that recognizes and encourages communityfloodplain management activities that exceed minimum NFIPrequirements. The program’s 10 class rating levels are based on thenumber and type of activities voluntarily initiated by theparticipating community. Each level corresponds to a percentagediscount on National Flood Insurance policy premiums within thecommunity’s geographic area.
County took steps to protect citizens
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
