Carl G. Pry to Present Flood Insurance: Compliance Issues
Date: Wednesday, July 11, 2018
Time: 10:00 AM - 12:00 PM CT
Topic: Flood Insurance: Compliance Issues
The flood insurance regulations have been around since 1996, yet examiners continue to cite numerous violations and fines. Flood has been announced as one of the regulators' principal areas of concern. We've also had changes in the law, with the Biggert-Waters Flood Insurance Reform Act of 2012, that has influenced compliance efforts. The NFIP was temporarily extended through the end of this year but there are significant changes coming to the program due to severe financial issues. These changes won’t just change the economics of the program; there will be compliance changes, too. We’re not positive what those will be yet, but there are tea leaves to read.
We'll concentrate on some of the more vexing current issues in flood compliance, such as monitoring, contents coverage, and the ever-present condo problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered.