WASHINGTON, D.C. — U.S. Senator Katie Britt (R-AL), a member of the Senate Banking Committee, has joined Senator Bill Cassidy (R-LA) and several other Senate Republicans in urging the Federal Emergency Management Agency (FEMA) to eliminate Risk Rating 2.0, a flood insurance policy they say is placing undue financial strain on homeowners nationwide.
In a letter addressed to Acting FEMA Administrator David Richardson, the Senators criticized the Biden-era policy, citing a lack of transparency and significant increases in National Flood Insurance Program (NFIP) premiums across all 50 states. According to FEMA’s own data, 77% of all NFIP policyholders are now paying more under the revised system.
The lawmakers argued that FEMA has failed to publish the data and assumptions underlying the premium adjustments, nor has it allowed for meaningful public input. This, they contend, makes it difficult for communities to plan mitigation efforts, for lenders to underwrite mortgages, and for policyholders to appeal rate changes.
Senator Britt pointed to specific impacts in Alabama, where FEMA data as of August 2023 indicates that Risk Rating 2.0 would result in an average increase of approximately 106% in flood insurance premiums. Nearly 79% of NFIP policyholders in the state are expected to face higher monthly premiums in 2025, with about 1,200 Alabamians discontinuing their NFIP coverage over the past year.
Britt stated her commitment to working with fellow lawmakers to improve transparency and reduce financial burdens on homeowners.
FEMA has not yet issued a response to the Senators’ request.
