HONOLULU (KHON2) — New FEMA flood insurance rate maps take effect Wednesday, impacting thousands of property owners.
The new maps follow a multi-year flood risk study with the Federal Emergency Management Agency.
“This is the first major island-wide remapping of Oʻahu in more than 10 years,” said Sean Satterfield, the Business Development Director in the Client Consulting unit at Atlas Insurance. “Approximately 250,000 properties on Oʻahu were reviewed as part of the remap. Fewer than 400 properties were described as moving from higher-risk zones into lower-risk X zones. More than 8,000 properties were described as moving from X or D zones into higher-risk A or V zones,” said Sean Satterfield and Shane Choi with Atlas Insurance…