Lower Rates: New flood risk assessment will reduce insurance rates in the Great Lakes region

Approximately 85,000 homeowners in the Great Lakes region will see rate reductions in their home flood insurance because of the National Flood Insurance Program’s new risk rating system. The new system, Risk Rating 2.0, was created to address inequities in flood insurance pricing in the old system, which was last updated in the ‘70s. Read the full story by Great Lakes Now.