SOURCE: Ping4, Inc.

November 06, 2013 10:15 ET

Ping4 Inc. Asks: Can Communities Curb Costly Increase in Flood Insurance?

FEMA's Community Rating System Incentivizes Communities to Construct Flood Response and Recovery Plans to Hedge Against Rising Flood Insurance Premiums

NASHUA, NH--(Marketwired - Nov 6, 2013) - In the aftermath of Hurricanes Katrina and Sandy, FEMA's National Flood Insurance Program (NFIP) is in dire financial straits -- more than $24 billion in the red. Who will be paying to stabilize the NFIP in the event of future flood disasters? Homeowners.

In coastal and lake-rich states across the country, there is ample evidence to prove that flood insurance premiums are increasing five to twenty times the normal rate. The source of these changes is the Biggert-Waters Flood Insurance Reform and Modernization Act of 2012 (often shortened to BW-12).

Ping4alerts!, a mobile alerting platform, can help communities impacted by the new legislation through the Community Rating System. Integrating ping4alerts! into a community's flood plan can reduce risk and improve response and recovery. With ping4alerts! emergency management officials can deliver highly-localized flood warnings to impacted communities and provide a course of action, such as evacuation routes and shelter information.

Through a web-based application, agencies can draw a shape on a map as small as a street block, or as large as the state to push a flood warning to all devices inside the impacted area. Ping4alerts! can help communities save 5-10% on flood insurance rates. Best of all, the app is free and requires no personally identifiable information.

For more information on the new changes to the NFIP, visit www.floodsmart.gov and download ping4alerts! by visiting the Google Play or iTunes store.

About Ping4 Inc.
Ping4 Inc., is a Nashua, New Hampshire software company utilizing the latest in push technology to deliver real-time, location-based, multimedia alerts to any iOS or Android mobile device. Public safety agencies license the platform to keep citizens informed of extreme weather events and other fast-moving situations. Consumers are not required to give up any personally identifiable information. User identity is 100% protected. More information is available at www.ping4.com.

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