NFIP Risk Rating 2.0 Overview/Implementation Update

Richard J. Sobota, CPCU, Sr. Insurance Specialist, FEMA

The National Flood Insurance Program is phasing in a new way of measuring flood risk and calculating flood insurance premiums.  Here’s a hint-we will no longer be using Flood Insurance Rate Maps to rate flood insurance policies!  Join us for an overview of our new methodology, new rating variables, and what it means to NFIP Stakeholders.

Author Bio

As the Sr. Insurance Specialist for the Federal Emergency Management Agency (FEMA) Region III Office in Philadelphia, Rich serves as a subject matter resource for internal and external National Flood Insurance Program (NFIP) stakeholders. His current area of focus includes outreach efforts related to “Closing the Insurance Gap” and helping the public and private sectors build a culture of preparedness and resilience. Rich began his career with FEMA in 2008, and he assumed responsibilities as the Regional Community Rating System (CRS) Coordinator in January 2016. More recently, Rich was designated as Regional PIVOT Coordinator as part of the ongoing NFIP Transformation and is leading the rollout of Risk Rating 2.0 in Region III states.

Rich holds a B.A. (cum laude) in Communications Arts from the College of New Jersey and was awarded the designation of Chartered Property Casualty Underwriter (CPCU) in 1989.