81% of Flood Insurance Policyholders Will See Rate Increases, Redfin Says

National Mortgage News, Apr. 26, 2022 (subscription)
When the Federal Emergency Management Agency rolled out a major overhaul to the National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases, while almost 90 percent of policyholders would see their costs stay stable or decrease. But as the program goes into effect this month for existing policyholders, more than 80 percent of those homeowners are set to see rates climb and those gains will be spread largely evenly among rich and poor areas.