"They ranted and complained, they hectored administration officials, and they tried to stop it with legislation.
But members of Congress have failed to block a historic restructuring of the federal government’s flood insurance program that aligns premiums more closely with each property’s flood risk. The program begins tomorrow for millions of people.
The restructuring, called Risk Rating 2.0, revises premiums for the 5 million policyholders in the government’s National Flood Insurance Program. Premiums will be based on a more precise and accurate analysis of flood risk — a revision that climate advocates say will discourage development in flood zones by making insurance costlier in those areas.
Several lawmakers from coastal states have loudly protested Risk Rating 2.0, saying it would raise insurance premiums for some of their constituents and cause some homeowners to drop flood coverage. But legislation to weaken or block Risk Rating 2.0 has not moved, stalled by a lack of support and general congressional gridlock."
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