Here are some of the top stories from the past week from NBC 6 News:

Almost 450k Flood Insurance Policies to Increase in South Florida

Almost 450,000 flood insurance policies in Monroe, Miami-Dade and Broward counties will see an increase in premiums next year when FEMA moves to its new “Risk Rating 2.0” methodology. The new formula factors in sea level rise, flood risk, the amount of rainfall, the cost to rebuild, along with other aspects for properties. 

The change is already in place for new policies and will kick in for renewals in April 2022. The change will impact South Florida because of the increasing threat of sea level rise and heavier rainfalls brought on by climate change. 

The change also shifts the financial burden to high-value properties, which are more expensive to rebuild. Leaders at the Federal Emergency Management Agency (FEMA) argue lower value properties have been shouldering too much of the financial burden. That means around 125,000 policyholders in Miami-Dade, Broward, and Monroe counties will see their premiums decrease. Those decreases have already taken effect. 

According to an analysis of zip code data by NBC 6 Investigators, five of the top 10 Florida zip codes with the most premium increases are in Miami-Dade County. Thousands of premiums will go up for flood policies in zip codes 33175, 33186, 33157, 33032 and 33033. The majority of the increases will be up to $120 a year. Many of those policies could have seen…

Read more…