Flood insurance training is no longer "optional". The Biggert-Waters Flood Insurance Reform Act extended authority for the National Flood Insurance Program (NFIP) through 2017. This legislation also allowed regulators to increase fines to $2,000 per incident and removed the annual limit.

Attend this training session to get updated on Flood Insurance training. By attending, you will better understand the rules of coverage, the root causes for common violations (including proper completion of the Standard Flood Hazard Determination Form), controls to require adequate flood insurance coverage, and proving that the Notice of Special Flood Hazards was delivered for each type of "triggering" event.

Covered Topics:

• Expectations for flood insurance compliance, including recent regulatory guidance and suggestions for oversight by the Board and Senior management


• What "pattern or practice" violations will trigger mandatory assessment of civil money penalties by your financial institution's primary regulator?


• Requirements of the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Insurance Affordability Act


• How to deliver proper flood hazard notices for the four types of "trip wire" events; proper insurance calculation methods, and force placement rules


• Problem areas - what are they and how can you avoid making costly mistakes?


• Portions of the interagency question and answers also will be covered

What You'll Learn:

• Contents coverage for commercial loans


• Residential condominium loans


• Force placement of flood insurance


• Map changes


• Disputing flood zone determinations


• Flood zone discrepancies


• Notice to borrower


• Proof of coverage


• Construction Loans


• Modifications


• Detached garages

Flood Insurance Resources - helpful references and tools for compliance