Key Points:
Verisk falsely claimed FEMA paused the CRS program.
In an update to a previous article about flood insurance, Peterborough residents living in flood zones will not see an increase in their premiums.
According to a Federal Emergency Management Agency press release, Verisk, the agency’s third-party flood insurance vendor, falsely asserted in an email to towns the Community Rating System program no longer had the resources necessary to operate.
In the press release, FEMA spokesperson Victoria Barton said FEMA has no plans to terminate the CRS program and will continue supporting communities seeking to reduce their flood risk.
“It is deeply unfortunate that this vendor has chosen to convey false information and unnecessarily confuse state and local community leaders,” Barton said.
Danica Miller, the town’s Director of Planning & Building, said Peterborough participates in FEMA’s CRS program where it receives points for floodplain management activities. Residents and businesses get a 10% insurance discount on premiums in return.
She said the rating comes from an annual report reviewing the town’s progress toward floodplain and hazard mitigation goals.
On March 20, a representative from Verisk notified the town in an email the agency discontinued funding for the contractor administration of the CRS.
FEMA’s Region 1 Acting External Affairs Director David Mace said in an email all previously approved CRS discounts will continue.
“The existing flood insurance rates in Peterborough will remain unchanged, with most residents enjoying a 10% discount due to the town’s participation in CRS,” he said.
Miller said the town is hosting a flood risk open house to address flood zone changes at 4 p.m. April 30 in the Town Hall. She said both FEMA representatives and state officials will be in attendance to answer questions.