Seminar planned for new flood insurance rates - KWWL - Eastern Iowa Breaking News, Weather, Closings

Seminar planned for new flood insurance rates

Posted:
DUBUQUE (KWWL) -

A seminar detailing new flood insurance rate maps will take place in Dubuque June 8.

The City of Dubuque, and FEMA is hosting the event for realtors, lenders, and insurance agents from 8:30 a.m. to 11 a.m. at the City Council Chambers.

The seminar will provide information on the National Flood Insurance Program, the flood mapping revision process, and the effects of map changes on flood insurance. Specific attention will be given to inform professionals dealing with the following floodplain issues:

1. How to read a Flood Insurance Rate Map (FIRM);

2. How to understand flood risks identified on a FIRM so that professionals can best assist their clients in making informed risk management decisions regarding the purchase of a home or other properties.

3. The need for flood insurance.

4. How to understand the National Flood Insurance Program's Grandfather Rules and Preferred Risk Policy Eligibility Extension, potentially providing significant long-term flood insurance cost savings to property owners.

5. The process for Letter of Map Amendment (LOMA) and Letter of Map Revision (LOMR) for a FIRM.

6. The mandatory purchase provisions.

7. Create a FIRMette.

The City of Dubuque is in the process of receiving new Flood Insurance Rate Maps from FEMA and the new maps will replace the existing maps to help identify areas of special flood hazard (commonly referred to as the 100-year floodplain). These maps are used by the City to assess the risk of flooding to a property and identify where floodplain development standards are required. They are also used by insurance companies to establish rates for flood insurance.

For more information on the seminar or the FEMA mapping project, contact the City of Dubuque Planning Services Department at 563-589-4210 or planning@cityofdubuque.org.

Powered by Frankly