The City of Panama City Beach says more than 12,000 local households soon will receive about a 25% discount on flood insurance because of an improved score on the National Flood Insurance Program Community Rating System. That is a voluntary program run by the Federal Emergency Management Agency that rates communities on a scale of 1-10 to determine flood insurance premiums. The lower the score, the better the rate. That could work out to $450,000 in annual savings for property owners.