Thibodaux City Court fugitive taken into custody
March 30, 2022
Terrebonne Parish Opens Temporary Severe Weather Shelter
March 30, 2022
Yesterday, the Coalition for Sustainable Flood Insurance (CSFI) convened parish presidents from across the Greater New Orleans Region to discuss the impact of Risk Rating 2.0, FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP) which begins April, 1.
The move represents the first major overhaul of flood insurance in more than 50 years. According to FEMA, 77 percent of policyholders nationwide will see premiums increase with the new implementation. Some states including Louisiana will see 80 percent of policies or more increase with the move. Coastal areas of major national economic significance, and key oil and gas production hubs like here in Southern Louisiana, could face significant affordability challenges.
Lafourche Parish President Archie Chaisson recently made a comment on the implementation, “When I took the oath to protect our Parish I never thought it would be against a policy that is so blatantly ridiculous. Hopefully working as a team of Parish Presidents and the Coalition for Sustainable Flood Insurance we can starve off yet another assault on the hard-working people of Lafourche Parish as FEMA Federal Emergency Management Agency tries to run us out by raising our flood insurance rates,” he said on social media.
Terrebonne Parish President Gordon Dove also had something to say about the matter. “Flood insurance a critical program, not only for us in Louisiana, but for states all across the country. We need an affordable, equitable, transparent, and reliable program that will offer our families and businesses stability,” said Dove, “We have been investing in risk reduction efforts doing our part so that we can continue to produce the energy, seafood, and host of other products we provide to people across the nation. The National Flood Insurance Program needs to recognize those efforts and work with us toward these shared benefits.”
According to a December 2021 Congressional Research Service report, 50 percent of properties will reach their full risk rating in 5 years, and in 10 years, 90 percent of properties will reach their full risk rating.
CSFI has released tips for policyholders.
For existing policyholders, the organization recommends renewing your existing policy and maintaining an active policy, and assigning your policy to a new property owner. For new policyholders, they recommend assuming an existing policy. For the general public, they recommend considering undertaking mitigation measures, considering to obtain an Elevation Certificate (EC), checking to see if your community participates in the Community Rating System (CRS) and encourages participation, and reviewing documents and resources provided by FEMA to date. Click here for the full list and descriptions of tips.
Read more about Risk Rating 2.0 on FEMA’s website.
