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Big “I" Flood partner Selective has kicked into high gear to help get you up to date on what you need to know about FEMA's introduction of the new National Flood Insurance Program (NFIP) Risk Rating 2.0, for new business on October 1, 2021. Register for a FEMA-led Risk Rating 2.0 Equity in Action training session today, June 24, at 3 pm E.T. to learn how Risk Rating 2.0 is designed to: - Reflect a property's unique flood risk
- Provide rates that are easier for agents and customers to understand
- Use the latest actuarial practices to set risk-based rates
- Reduce the complexity for agents to generate quotes
Additional sessions are available in July. Selective's new Training Dashboard is now available in the Selective agent portal to make it easy to access system and NFIP trainings, important resources, and videos. Selective has also created a Risk Rating 2.0 section on their website to keep you updated as more trainings become available, along with new policy forms effective October 1, 2021. It's important to promote the purchase of flood coverage now before Risk Rating 2.0 goes into effect. Reach out to your Territory Manager with any questions.
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