Committee Goal: Affordable, voluntary flood insurance for 100-year accredited levee protected areas.
Accredited levees continue to exempt protected communities from mandatory flood insurance and associated floodplain management regulation.
No increase in the federal regulatory base flood elevation (BFE)
Transparent and challengeable Risk Rating 2.0 data and methodologies:
with an appeal process for the policyholder or communities to have data corrected or to challenge premiums, and
that allows independent, objective analysis of FEMA data, methods, and models.
Co-equal participation, decision making, and leadership of levee owners and USACE in formulating policy and programs to improve levee reliability and safety.
Mandatory disclosure requirement on all NFIP flood insurance bills of the full actuarial RR 2.0 premium and explanation of the premium determination (i.e., risk rating separate from price, fees, discounts, etc.)
Ensure the data being used to determine risk in leveed areas, and RR 2.0 premiums, is correct and meets the OMB requirements for the Information Quality Act
Require Agencies to consistently account for economic benefits of damages avoided.