NFIP Rate Increases

From FEMA transcript and link to their video.

View in FEMA Multimedia Library

TRANSCRIPT

Change continues to come to the National Flood Insurance Program this spring.  Some of the changes result from the continued implementation of the Homeowner Flood Insurance Affordability Act of 2014 and the Biggert-Waters Flood Insurance Reform Act of 2012. 

This video will review NFIP Program Changes discussed in Write-Your-Own bulletin w-16071.

You can download copies of this and other bulletins by going to nfipiservice.com. The April 1st Flood Insurance Manual is available for a free download at fema.gov.

So, let’s go ahead and get started.

Highlights of the program changes effective April 1, 2017 include the following:

Updated premium rates conforming to the premium rate caps established by Biggert-Waters and the Homeowner Flood Insurance Affordability Act;

 Updated premium multiplier tables for policies rated under the Newly Mapped procedure; and

Clarifications for policy rating and loss adjustment for Pre-Flood Insurance Rate Map substantially improved properties.

One other item to single out from the bulletin is the next scheduled update to the Community Rating System Eligible Communities list. It is effective May 1st.

Let’s first review the impact of premium increases and surcharges. 

Overall, premiums will increase from an estimated average of $827 per policy to $878, for an average increase of 6.3%. Now, these amounts do not include the Homeowner Flood Insurance Affordability Act surcharge or the Federal Policy Fee.

When those are included, the total amount billed the policyholder will increase from $953 to $1,005, for an average increase of just 5.4%.

Just as a reminder, the premium increases effective April 1st, comply with all the requirements of both Biggert-Waters and the Homeowner Flood Insurance Affordability Act.

Premium rates for four categories of Pre-FIRM subsidized policies must be increased 25% annually until they reach full-risk rates. Those categories consist of:

Non-primary residential properties

Business properties

Severe Repetitive Loss properties, which includes cumulatively damaged properties, and;

Substantially damaged or substantially improved properties;

Also, the average annual premium rate increases for all other risk classes are limited to 15% while the individual premium rate increase for any individual policy is simultaneously limited to 18%; and the average annual premium rate increase for all other Pre-FIRM subsidized policies not covered by the first categories mentioned must be at least 5%.

Now, there are some limited exceptions to the 18% cap on premium rate increases for individual policyholders. These include policies on the properties that are subject to 25% annual premium rate increases. These also include premium rate increases resulting from changes in the Community Rating System class, misratings, and increases in the amount of insurance purchased. The specific scenarios that constitute a misrating are described in the Flood Insurance Manual.

When premium rate increases are evaluated for compliance with these caps, the building and contents premium, the Increased Cost of Compliance premium, and the Reserve Fund Assessment are all included.

However, the probation surcharge, Federal Policy Fee, and Congressionally-mandated surcharge are not considered premium and, therefore, are not subject to the premium rate cap limitations. As a result, the increase in the total amount charged a policyholder may exceed 18 percent in some cases.

Finally, for policies issued on or after April 1, there will be no changes to the following:

Deductible factors

The Federal Policy Fee

Reserve Fund Assessment percentage

HFIAA Surcharge amount

Probation Surcharge amount, and

ICC premiums

More specific information about premium increases related to certain flood zones and rating methods can be found by reviewing Attachment A of bulletin w-16071.

Thank you for reviewing this video segment on premium increases and surcharges. For more April program changes information, please see the other video segments posted to this site.

Overall homeless count on Cape, Islands at 5-year low

Overall homeless count on Cape, Islands at 5-year low

While this is promising information, it continues to illustrate a need for everyone to step up and do more. Couch surfing is a big, missing, portion of the equation. Without a count of these, we are not getting a complete count. We should also remember that “sheltered” homeless are, still, homeless. longer term living facilities continue to be needed, from group homes for those meeting the criteria for these facilities, single room occupancy efficiency units.

Dennis has stepped up to the plate, creating single room occupancy units with the conversions to year-round housing of the former Dennis West, Cape Haven and Plantation motels and two cottage communities on Route 28. We now have a similar conversion planned for the former Dennis Port Motel under review.

Of course, our big effort is the creation of the Home for Veterans on Route 134. We look forward to the day we can begin construction on this project.

 

 

Highbank Road Work Traffic Advisory

PRESS RELEASE
 
DENNIS POLICE DEPARTMENT
 
90 Bob Crowell Road, South Dennis, MA.   02660
Business: (508) 394-1315
                                                                                                                                                                                    Direct: (774) 352-1454
 
 
FOR IMMEDIATE RELEASE
 
 
DATE:                April 13, 2017
 
CONTACT:       Lieutenant Peter Benson
 
SUBJECT:         Traffic Advisory-Highbank Bridge
 
 
On Thursday April 20, 2017 and Friday April 21, 2017 (weather permitting) work will be conducted on the Highbank Bridge in South Dennis. Police Officers will be on site to direct traffic around the work, but motorists should expect delays and are encouraged to avoid the area and seek alternate routes if possible.
 

Bridge Work Route 134

PRESS RELEASE

 

DENNIS POLICE DEPARTMENT

 

90 Bob Crowell Road, South Dennis, MA.   02660

Business: (508) 394-1315

                                                                                                                                                Direct: (774) 352-1454

 

 

FOR IMMEDIATE RELEASE

 

 

DATE:                April 10, 2017

 

CONTACT:      
Lieutenant Peter Benson

 

SUBJECT:        
Route 134 Overnight Closure Re-Scheduled for Tuesday, April 18

 

 

 

The placement of the Cape Cod Rail Trail Bridge over Route 134​ is scheduled for Tuesday, April 18, 2017.  Route 134 between Theo Smith Road and Upper County
Road will be detoured at approximately 8PM.  The placement of the bridge will commence shortly after and extend into early Wednesday morning.  Route 134 should be open to traffic by 6AM on Wednesday.

 

The bridge will arrive in sections on Thursday, April 13.  The sections will be stored and assembled in the Route 134 parking lot which will remain open
but will be reduced by about 16-20 spaces.

 

Detour Information:

 

  • Route 134 South Bound traffic will follow the posted detour onto Theophilis Smith Road, to South Gages Way, to Great Western Road, to Upper County Road and back onto Route
    134. 

 

  • Route 134 North Bound traffic will follow the detour onto Upper County Road, to Great Western Road, to South Gages Way, to Theophilis Smith Road and back onto Route 134. 

 

  • Traffic on Upper County Road approaching Route 134 from Dennis Port will be detoured across Route 134 onto Main Street, to Old Bass River Road, to Bob Crowell Road and back
    onto Route 134.

 

The closure is necessary to erect the steel trusses for the new rail trail bridge for the Dennis-Yarmouth Cape Cod Rail Trail Extension Project.

 

Motorists are encouraged to avoid the area and seek alternate routes in advance of the detour.

 

The scheduled work is tentative, weather dependent and subject to change without notice.

 

 

 

 

 

Lieutenant Peter Benson

Executive Officer

Commander of Professional Standards

Firearms Licensing Officer

Public Information Officer

Dennis Police Department

90 Bob Crowell Road

South Dennis, MA. 02660

 

(V) 774.352.1454

(F) 774.352.1442

 

pbenson@town.dennis.ma.us

www.dennispolice.com