AVALON – Avalon held a set of presentations for borough property owners Aug. 22. The presentations included information on the current status and future direction of the National Flood Insurance Program as well as the emerging industry for private market flood insurance.
Thomas Heist of the Heist Insurance Agency and Tyler Ardron of the Risk Reduction Plus Group Agency provided the information to a well-attended session. Avalon has made the presentation slides available to interested members of the public on the borough website.
The presentations focused on the basics of flood insurance, flood mitigation and the national Community Rating System. They then explored the changing system for setting flood insurance premiums, a system in which the cost to rebuild a structure has become a significant rating system variable.
With FEMA’s now implemented Risk Rating System 2.0 in place, the presentation by Heist spoke of the importance of complying with the flood map regulations at the time of construction.
The two presentations were aimed at and accessible to newcomers to the ever more complex world of flood insurance. Homeowners experienced with or new to the flood insurance programs were able to get individual advice on their properties. The contact information for both presenters is part of the presentations, available on the borough’s website.
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