The Town of Ocean City announced that through efforts of Terry McGean and staff the Community Rating for Ocean City has improved. This rating generates discounts to flood policies that are in the Special Flood Hazard Zones (A or V).
The National Flood Insurance Program took an increase of 6.9% in April of 2017. The anticipated discount will help minimize that impact for clients in the high risk zones.
From the FEMA website: The National Flood Insurance Program's (NFIP) Community Rating System (CRS) is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements.
As a result, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from the community actions meeting the three goals of the CRS:
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Reduce flood damage to insurable property;
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Strengthen and support the insurance aspects of the NFIP, and
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Encourage a comprehensive approach to floodplain management.
We are proud to be members of a community who works hard to protect the people and property from the peril of flood. Thank you for your service and dedication to this project and your continual effort to make citizens and visitors of Ocean City safe.
