Flood Insurance Compliance: Examples – ON-DEMAND WEBINARS

Recorded: November 5, 2021

Presented by: Ms. Anetria Cohen, Vice President and Senior Consultant, FORVIS

A two-hour webinar that uses three examples (residential; commercial; and condo) to walk through the flood insurance determinations.

Complying with the flood insurance rules can be complicated and confusing for many reasons, one of which is that different rules may apply depending on the type of property. Each of these types of properties presents their own unique issues during the flood process, including how to calculate the minimum amount of flood insurance required under the rule.

This webinar will present three common scenarios that institutions often face on a daily basis and provide a simple checklist that an institution may use and revise for its own internal purposes. Although learning the rule is always important, how does it actually work?

HERE IS WHAT YOU WILL LEARN:

Using Residential; Commercial; and Condo examples to incorporate the following requirements:

• Determination and Notice
  • Relying on previous determinations
• Insurance requirements
  • Calculation, including insurable value
  • Multiple structures/Contents coverage
  • Line of credit
  • Subordinate lien
  • Determining if a RCBAP is sufficient
  • Detached structure exemption
  • Use of private policies
• Escrow
• Force-placement
  • Timing and calculation