Community Rating System

{
  "id": "MLC-T-INS-000044",
  "term": "Community Rating System",
  "field": "Insurance and risk management",
  "definitions": [
    "A program developed by FEMA to provide incentives for those communities in the Regular Program that have gone beyond the minimum floodplain management requirements to develop extra measures to provide protection from flooding.",
    "(CRS) A voluntary program administered by the Federal Emergency Management Agency (FEMA) that provides discounts on flood insurance premiums for communities that implement floodplain management practices exceeding the minimum requirements of the National Flood Insurance Program (NFIP). Communities earn points for activities like open space preservation, higher regulatory standards, and flood warning systems. Discounts range from 5% to 45% based on the community's CRS class."
  ],
  "abbreviation": "CRS",
  "subject": [
    "National Flood Insurance Program",
    "Personal Lines"
  ],
  "references": [
    "FloodSmart Flood Insurance Glossary",
    "FEMA Glossary"
  ],
  "url": "https://mlchart.com/terminology/insurance/community-rating-system/"
}