HUD Announces Final Rule that will Protect Communities from Flooding Events and Rising Insurance Costs

The Federal Flood Risk Management Standard (FFRMS) protects families and federal investments against future flood risks – decreasing harm, saving lives, and reducing insurance costs WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) published a Federal Flood Risk Management Standard (FFRMS) final rule in the Federal Register to help communities prepare for and reduce flood damage. This rule aims to protect communities from flood risk, heavy storms, increased frequency of severe weather events and disasters, changes in development patterns, and erosion.  By implementing the FFRMS, communities can become resilient to flooding, protect lives and properties, minimize damage to households, reduce insurance costs, and safeguard federal investments – ensuring that federally funded construction projects are built to withstand current and future flood risks. “Across the country, I’ve seen firsthand the devastating impact flooding disasters have had on families and communities – especially those least equipped to handle the emotional and financial burden of recovery. HUD’s announcement today lessens the burden these disasters have on people,” said HUD Acting Secretary Adrianne Todman. “As climate change progresses, flooding disasters will continue to become more frequent, more severe, and more costly for families and taxpayers. This final rule will increase awareness...