REDUCING FLOOD RISK
ith ever-changing regulations and an increase in flood insurance premiums, property owners should understand that there are options available to manage their risk, exposure and costs. They should also stay abreast of pending regulation changes, which could impact the design of any new construction or building improvement project.
CHANGES IN REGULATIONS
How flood code updates impact property owners and the ways to mitigate insurance costs BY SEAN RILEY 50
SPRING SUMMER 2018 / AT HOME ON CAPE COD
The Communities within Barnstable County adopted the Revised FEMA Flood Insurance Rate Maps (FIRMs) in July of 2014. Thousands of homeowners across Cape Cod were impacted by the flood map changes and received letters from their mortgage lenders informing them that their homes now fell within a “Special Flood Hazard Area” as designated on the revised Flood Insurance Rate Maps. Because their homes were newly designated as having a one percent annual risk of flooding, they were now required to purchase flood insurance. The State of Massachusetts adopted the 9th Edition of the State Building Code on January 1, 2018. The regulatory