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:
Reduce flood damage to insurable property;
Strengthen and support the insurance aspects of the NFIP, and
Encourage a comprehensive approach to floodplain management.
By participating, communities earn credit points that determine classifications. There are 10 CRS Classes: Class 1 requires the most credit points and provides the largest flood insurance premium reduction (45 percent), while Class 10 means the community does not participate in the CRS or has not earned the minimum required credit points, and residents receive no premium reduction. The CRS Classes are based on completion of 19 creditable activities organized into 4 categories:
Mapping and Regulations
Flood Damage Reduction
Warning and Response
The City applied for 14 of the 19 activities and was recently awarded a Grade 9 rating by the Insurance Services Office (ISO). The discount will be made available May 1, 2015.