On Tuesday, Bay Head, Mantoloking, and 15 other communities were recognized by FEMA for reducing their flood risk through the Community Rating System. This program, administered by FEMA, encourages communities to be proactive about managing their flood risk, and rewards them accordingly.
“The Community Rating System (CRS) is a program administered by FEMA that provides lower insurance premiums under the National Flood Insurance Program. Communities can apply to participate in the CRS, and residents of participating communities pay lower premium reduction rates based on the implementation of floodplain management policies.
Communities earn points toward their rating based on 18 creditable activities in four categories: Public Information, Mapping and Regulations, Flood Damage Reduction and Flood Preparedness. For towns participating in the CRS, flood insurance premium rates are discounted in 5 percent increments. Premium reductions are in the form of CRS Classes, similar to the classifications used for fire insurance. A Class 1 community (the highest level of compliance) would receive a 45% premium reduction.”
The full press release can be found here.