CITY OF NORFOLK, VIRGINIA SAVES OVER $1 MILLION A YEAR IN FLOOD
INSURANCE PREMIUMS
[https://www.fema.gov/press-release/20230425/city-norfolk-virginia-saves-over-1-million-year-flood-insurance-premiums]


Release Date: 
六月 26, 2019 

PHILADELPHIA – Residents of the City of Norfolk, Virginia have
received a reduction in their flood insurance premiums through an
increase of various floodplain management measures encouraged by the
National Flood Insurance Program (NFIP)
[http://www.fema.gov/national-flood-insurance-program]. These measures
have reduced the risk of flooding and resulted in a decrease in
insurance premiums for communities across the county.

The Federal Emergency Management Agency (FEMA) [http://www.fema.gov/]
oversees the NFIP, which administers a program called the Community
Rating System (CRS)
[http://www.fema.gov/national-flood-insurance-program-community-rating-system].
The CRS is a voluntary incentive program that recognizes and
encourages community floodplain management activities that exceed
minimum NFIP requirements. “The Community Rating System change for
the City of Norfolk shows their commitment to protecting themselves
from the dangers of flooding,” stated MaryAnn Tierney, FEMA Region
III Regional Administrator. “We would like to thank the city for
taking actions to protect lives and property which has reduced their
risk to flooding, and as a result they have seen a drop in their
insurance premiums to reflect those efforts.” The program includes
10 different class rating levels based on the number and type of
activities voluntarily initiated by participating communities. Each
level corresponds to a percentage discount on National Flood Insurance
policy premiums within the county.

As a member of the Community Rating System, Norfolk is within an elite
group of 26 communities in Virginia that have received this
recognition. With the steps taken by Norfolk to protect its citizens
and increase its resiliency, it has advanced its CRS standing to a
Class 7 participant. For each Class that a community moves up to, it
provides its residents with an additional 5% reduction in their flood
insurance premiums up to the 45% reduction that a Class 1 community
receives. As a Class 7 community, Norfolk enables its residents to
receive a 15% reduction on their flood insurance premiums.[This photo
includes FEMA Region III’s Zane Hadzick (right) presenting the
Community Rating System Plaque to the City of Norfolk’s Mayor
Kenneth Alexander (center) and City Floodplain Manager Matthew Simons
(far left). City Council members are present behind them.]

The Class 7 rating qualifies eligible NFIP policy holders in Norfolk
an average of $168.00 in savings on their annual premiums. In
addition, each policy written in the non-Special Flood Hazard Area
(SFHA) zones of Norfolk receives a 5% annual premium discount, for an
average saving of $35. Overall, entering CRS as a Class 7 rating
results in a total savings of over $1,149,293 annually. On behalf of
the Commonwealth of Virginia, FEMA Region III, and the NFIP, we would
like to thank the City of Norfolk for their hard work and dedication
to reducing flood risk and increasing resiliency within their
communities.

Under the CRS, local officials are asked to meet three goals: (1)
reduce flood losses; (2) facilitate accurate insurance rating; and (3)
promote the awareness of flood insurance. Communities who apply to
participate in the CRS are required to provide information
demonstrating their floodplain management program exceeds the minimum
compliance requirements of the NFIP. Once the information is verified
and approved, FEMA provides flood insurance premium discounts through
the NFIP. The amount of a property owner's policy discount is based on
the community’s CRS rating.

For information about flood insurance, property owners should contact
their insurance agent, visit
www.FEMA.gov/national-flood-insurance-program
[https://www.fema.gov/national-flood-insurance-program], or call the
NFIP's toll-free information line at
1-800-427-4661. To learn more about the CRS, visit
www.FEMA.gov/national-flood-insurance-program-community-rating-system
[https://www.fema.gov/national-flood-insurance-program-community-rating-system].

FEMA’s mission is helping people before, during, and after
disasters. FEMA Region III’s jurisdiction includes Delaware, the
District of Columbia, Maryland, Pennsylvania, Virginia, and West
Virginia.  Stay informed of FEMA’s activities online: videos and
podcasts are available at fema.gov/medialibrary
[http://www.fema.gov/medialibrary] and youtube.com/fema
[http://www.youtube.com/fema]. Follow us on Twitter at
twitter.com/femaregion3 [http://www.twitter.com/femaregion3].

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