FLOOD07997

• County: Statewide
• Basin: Statewide
• Title: Flood Insurance Manual
• Date: 10/1/1992
• Prepared For: US
• Prepared By: National Flood Insurance Program
• Floodplain - Doc Type: Project

e

.

I: .
'I
I
I

e
I,,,

.

I: .
I

e

MEMORANDUM

FROM:

DATE:

SUBJECT:

Federal Emergency Management Agency
Washington, D,C, 20472

TO~od ~surance Manual Subscribers
X... ~&. '-<<'11 _
C. M. "Bud" Schauerte
Administrator
Federal Insurance Administration

October 1992

Revisions to NFIP's Flood Insurance Manual

The attached revision pages for your Flood Insurance Manual are
being distributed as a result of several important changes to the
National Flood Insurance Program (NFIP) being implemented October
1, 1992, January 1, 1993, and March 1, 1993.

THE FOLLOWING PROGRAM CHANGES WILL BE IMPLEMENTED FOR NEW AND
RENEWAL POLICIES WITH EFFECTIVE DATES ON OR AFTER OCTOBER 1,
1992:

1.

New deductible of $750 for subsidized policies
applicable separate Iv to buildinq and contents

Policies rated on the basis of "subsidized" rates
include all Emergency Program policies, as well as Pre-
FIRM policies in Zones A, AE, AI-A30, V, VE, VI-V30,
AO, and AH that are not Post-FIRM rated based on
an elevation or flood-proofing certification.
Another way to describe this change is that the $750
deductible will affect any policy whose premium was
calculated using the Pre-FIRM rate table (excluding
Zones A99, B, C, D and X).

In response to questions that have already been raised
on the effect of the new deductible, the following
issues are presented as clarification: Submit for rate
policies, MPPP policies, and Preferred Risk policies
are not considered to be subsidized; the limitations
for removal and sandbagging expenses will still be
based on $500; adjuster fees based on the Adjuster Fee
Schedule will continue to be calculated using a $500
deductible whether.or not the policy is subsidized.