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Thursday, April 3, 2014

NFIP Posts Overview of Flood Insurance Law

The NFIP posted an overview of the new flood insurance law on its Clearinghouse. The 5-page overview covers the following information:
  • Refunds 
  • Premium rates for subsidized policies 
  • New surcharge on all policies 
  • Grandfathering 
  • New "Flood Insurance Advocate" 
  • Draft Affordability Framework 
  • Mapping 
Read the overview.

Interested in deeper discussions about flood insurance? The ABIA has a Working Group of members that work on issues related to flood insurance and other legislative and regulatory bank-insurance sales issues. If you are an ABIA member and would like to learn more about ABIA's GR Working Group, please contact us.