On March 29, the Federal Emergency Management Agency (FEMA) released information on changes to the policies and rates of the National Flood Insurance Program. Highlights of the changes, required under the Biggert-Waters Flood Insurance Reform Bill that passed in 2012, include: revised premium rates; a new Reserve Fund assessment; updated rates for non-primary residences; exclusion of certain properties from receiving subsidized premium rates; and no extensions of subsidy to new policies or lapsed policies.

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