The Federal Emergency Management Agency (FEMA) has responded to Florida’s request to review the National Flood Insurance Program (NFIP) rates but it may not be as forthcoming and helpful as Florida officials had hoped.
In a letter dated Dec. 29, 2015 (see below), FEMA Deputy Associate Administrator for Federal Insurance and Mitigation Roy E. Wright acknowledged Florida Insurance Commissioner Kevin McCarty’s October, 2015 letter in which he asked FEMA to provide ratemaking data as it pertains to Florida to determine if the rates are “excessive, inadequate, or unfairly discriminatory.”
“FEMA is committed to ensuring its rate setting practices are fair, equitable, and transparent, and we appreciate your interest in supporting us in our efforts,” the letter to McCarty states.
Wright’s letter mentions a phone call discussion with FEMA staff and McCarty on Dec. 21, that included two of FEMA’s actuaries.
“We appreciate the collegial tone of that discussion and look forward to continue working with you in this effort,” Wright wrote. “As we mentioned during that phone call, FEMA is constantly reviewing and refining its rate-setting methodology and works to increase the transparency of that methodology.”
