Sec. 202. Premium transparency
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The Administrator shall issue to each policyholder under the National Flood Insurance Program, in writing, an annual premium pricing report with respect to the property of the policyholder, which shall include— the full, risk-based premium for the property, as identified under the Risk Rating 2.0 model or any subsequent pricing model of the Agency; the applicable premium for the property, inclusive of subsidies and caps as determined by section 1310A of the National Flood Insurance Act of 1968, as added by section 203 of this Act; and the anticipated premium for subsequent years following the report, based on the applicable pricing model of the Agency and annual limitations on premium increases established under section 1308(e) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(e) ).
If a policyholder rents out a property for which coverage is provided through the National Flood Insurance Program to tenants, the policyholder shall provide a copy of the annual premium pricing report for the property to the tenants with the lease for the property.
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Sec. 202
Premium transparency
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