FLOOD08304

• County: Statewide
• Basin: Statewide
• Title: Federal Emergency Management Agency
• Date: 5/1/1998
• Prepared By: FEMA
• Floodplain - Doc Type: Historic FEMA Regulatory Floodplain Information

161.7

44 CFR Ch. I 00-1-97 Edition)

Regular program
- Emergency Secon:l TC1181
program , layer .......
first layer .-
ContMIs'
Residential .__..___.___._._.__._.._______..._. 10.000 90.000 100.000
SmaD llulOness .. .- - -- 100.000 _.000 500.000
Churches. _~ n__'__ - ... -- -. 100.000 _.000 500.000

.

.

1 Only first layer available under emergeiq prcvam.
2 Per unit..

,

(b) lD the insuring of a residential
condominium building in a regular pr0-
gram community. the maximum limit
of building coverage is S250,000 times
the number of units in the building
(not to exceed the building's replace-
ment cost).

[60 FR 5585. J&I1. 30, 1995)

161.7 Bilk premium rate determiDa.
gems.
(a) Pursuant to section l3ll'1 of the
Act, the Adm;ni"trator is authorized to
undertake studies and investigations
to enable himlher to estimate the risk
premium rates necessary to provide
flood insurance in accordance with ac-
cepted actua.ria.1 principles. including
applicable operating costs and allow-
ances. Such rates are also referred to
in this subchapter as "actuarial rates."
(b) The Administrator is also author-
ized to prescribe by regulation the
rates which can reasonably be charged
to insureds in order to encourage them
to purchase the flood insurance made
available under the Program. Such
rates are referred to in this subchapter
as "chargeable rates." For areas hav-
ing special flood, mudslide (i.e., mud-
flow). and flood-related erosion haz-
ards, chargeable rates are usually
lower than actuarial rates.

161.8 Applicability of risk premium
rates.
Risk premium rates are applicable to
all flood insurance made a.vailable for:
(a.) Any structure, the construction
or substantial improvement of which
was started after December 31, 1974 or
on or after the effective date of the ini-
tial FmM, whichever is later.
(b) Coverage which exceeds the fol-
lOwing limits:
(1) For dwelling properties in States
other tha.n Alaska, Hawaii, the Virgin

. '.
..

Islands, and Guam (i) $35,000 aggregate
liability for any property containing
only one unit, (ii) Sl00,ooo for any prop-
erty containing more tha.n one unit,
and (iii) S10,000 liability per unit for
any contents related to such unit.
(2) For dwelling properties in Alaska,
Hawaii, the Virgin Islands, and Guam
(i) S50,000 1>6.,. "gate lia.bility for any
property containing- only one unit, (ii)
. Sl50,ooo for property contA.ining more
than one unit. and (iii) S10.OOO aggre-
gate liability per unit for any contents
related to such unit.
(3) For churches and other properties
(i) SlOO,OOll for the structure and (ii)
SlOO,OOll for contents Of any such unit.
(c) Any .structure or the contents
thereof for which the chargeable rates
prescribed by this part would exceed
the risk premium rates.

161.9 E&tahU.h"'ent of chargeable
rates.
(a) Pursuant to section 1308 of the
Act. chargeable rates per year per Sl00
of flood insurance are established as
follows for all areas designated by the
Arimini"trator under part 64 of this
subchapter for the offering of flood in-
surance. ..

. .."'.

RATES FOR New AND RENEWAl POUCIES

.......

-per,....
perSl00 COY-
Type of SlruCIuIe erage on
SlJuc. Con-
lure -
(1)_diaI so.&8 SO.79
(2) All _ (oncIuling holeIS and m0-
tels with _ occupancy 01 less
than 6 monlI1S in _ __ .79 1.58

. .'-

." ".
.... -.

(b) The contents rate shall be based
upon the use of the individual premises
for which contents coverage is pur-
chased.

[61 FR 8223. Mar. 4. 1996]

252