“Phase out of subsidies on certain pre-FIRM (Flood Insurance Rate Map) properties (non-primary residences, business properties, severe repetitive loss properties, substantially damaged or improved properties, and properties for which the cumulative claims payments exceed fair market value of the property) at a rate of 25 percent premium increases per year.


Phase out of subsidies on all other pre-FIRM properties through annual premium rate increases of an average rate of at least 5 percent, but no more than 15 percent, per risk classification, with no individual policy exceeding an 18 percent premium rate increase.”

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