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Thursday, Mar 26, 2015

Changes coming soon to flood program


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The Hernando County Development Department has announced changes to the way the National Flood Insurance Program is administered.

In 2012, Congress passed the Flood Insurance Reform Act, which calls on the Federal Emergency Management Agency, and other agencies, to implement these changes, which have already occurred or will soon take effect.

Key provisions of the legislation will require the NFIP to raise rates to reflect true flood risk, make the program more financially stable and change how the Flood Insurance Rate Map updates affect policyholders. The changes will mean premium rate increases for some — but not all — policyholders over time.

The new law eliminates some artificially low rates and discounts, which are no longer sustainable. Most flood insurance rates will reflect full risk and rates will increase on some policies. Actions such as buying or selling a property, or allowing a policy to lapse, can trigger rate changes.

“Properties that may have previously been ‘grandfathered’ at the time of initial adoption of the flood insurance rate maps, may now see an increase in their flood insurance policy premiums as a result of this legislation,” Assistant County Administrator for Planning and Development Ron Pianta said in a press release.

“Property owners should talk to their insurance agents about how these changes may affect their property and flood insurance policy — and options they may have for minimizing the impact,” Pianta said.

A factsheet providing the details about the impact of the 2012 legislation and the changes to the NFIP is available on the county’s website at and

For more information, call the Hernando County Development Department at (352) 754-4050, ext. 29133.

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