marshfield-brant-rock-flood-insurance-nfip-risk-rating-rogersgray-rossiOn April 1st, the Federal Emergency Management Agency (FEMA) released its first official communication on the long-awaited overhaul of the National Flood Insurance Program (NFIP)’s rating system. The new pricing methodology, known as Risk Rating 2.0, uses new modeling and updated data to assess more accurately flood risk of individual properties nationwide. Phase 1 of the new program begins on October 1, 2021.

In its announcement, FEMA shared a state-by-state breakdown of Risk Rating 2.0’s impact on flood insurance premiums. You can find the Massachusetts data here, and we’ve also summarized it below.


According to FEMA, Massachusetts NFIP flood insurance policy holders can expect the following changes:

  • 39% will see an immediate decrease in flood insurance premiums
  • 49% will see, on average, $0-$10 per month increase
  • 6% will see, on average, $10-$20 per month increase
  • 6% will see, on average, greater than $20 per month increase

The FEMA bulletin, found here, outlines the coming timeline for changes as follows:

  • April-September 2021: FEMA collaborates with and continues to periodically share draft guidance documents with NFIP insurers regarding RR 2.0 program changes.
  • August 1, 2021: NFIP insurers may begin quoting for policies with effective dates on or after October 1, 2021.
  • September 1, 2021: FEMA releases final guidance documents for NFIP insurers detailing upcoming RR 2.0 program changes.
  • October 1, 2021: All new business policies effective on or after this date must be issued under RR 2.0. Existing policies renewing with effective dates between October 1, 2021 and March 31,2022 can renew under the legacy rating plan or renew their policy under RR 2.0.
  • April 1, 2022: All existing policies with renewal dates on or after April 1, 2022 will be renewed under RR 2.0.

FEMA explained the creative process of Risk Rating 2.0 in its press release noting: “In developing the new rates, FEMA coordinated with subject matter experts from the U.S. Army Corps of Engineers, U.S. Geological Survey and the National Oceanic and Atmospheric Administration along with experts from across the insurance and actuarial industries”

Notably, key features that are NOT changing under Risk Rating 2.0:

➲ FEMA will continue to offer premium discounts for Pre-FIRM subsidized, newly mapped and continuous coverage grandfathering.
➲ Policyholders will still be able to transfer their NFIP policy discount to a new owner by assigning their flood insurance policy when their property changes ownership.
➲ Discounts to policyholders in communities who participate in Community Rating System will continue.

There will be much more information to come, so please stay tuned as we continue to monitor new developments.


Risk Rating 2.0 Data

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Joe Rossi | ANFI, CFM

Flood Specialist

Joe Rossi is a nationally recognized flood specialist. Rossi joined RogersGray in 2017 and provides a vast depth and understanding of coastal flood issues and legislation. Prior to joining RogersGray, seeking stronger citizen representation on coastal issues, Rossi formed the non-profit Massachusetts – née Marshfield – Citizens Coastal Coalition (MCCC) to educate citizens on flood insurance and mapping issues. Rossi continues to lead the MCCC, and in his role has presented to various communities, associations and other groups and organizations.He has acquired his associate of national flood insurance (ANFI) and has also acquired his certified floodplain manager (CFM) certification in 2016, one of the highest certifications in the flood insurance industry.

Rossi is a member of the board of directors for the National Flood Determination Association, a trade organization for producers of flood zone determinations. Rossi received his architecture degree from Wentworth Institute of Technology.

Connect with Joe on LinkedIn, on his RG page or via email.