Risk 211/28/2023 But climate change demanded a revision.ĭue to climate change, this half-century-old approach no longer reflects a property’s unique flood risk. The previous methodology, introduced as part of the National Flood Insurance Act of 1968, calculated homeowner’s risk by analyzing what flood zone their home is in using FEMA’s Flood Insurance Rate Map. For the past 50 years, the Federal Emergency Management Agency (FEMA) has used the same flood risk methodology for calculating insurance premiums.
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