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Wednesday, August 20, 2014

New Flood Insurance Available Online, Effective October 1, 2014

A new Flood Insurance Manual available effective October 1, 2014 is now available online.

Significant revisions include the following:
  • Updates to the NFIP Bureau and Statistical Agent Regional Offices (REF Section).
  • New policy procedures concerning accepting a signed statement from the insured in lieu of the
    prescribed documentation of primary residence, when such documentation is not available at the time of policy application for newly purchased properties. (GR, APP, and PRP Sections).
  • Guidance on eligibility for a beneficiary of a Trust for primary residence rating (GR Section).
  • Further guidance on named insureds for tenant’s coverage (GR Section).
  • Updated information on the photograph requirement for transfer of elevation-rated business policies (GR Section).
  • Revised rate tables for policies written or renewed on or after October 1, 2014 (RATE, CONDO, and PRP Sections).
  • Updates to the Building Drawing instructions to revise footnotes and rating guidance to comply with HFIAA. Addition of a new Building Drawing for building with a subgrade crawlspace and attached enclosure/garage (LFG Section).
  • Updates to the Coastal Barrier Resources System Communities list (CBRS Section).
  • Updates to the Community Rating System Eligible Communities list (CRS Section).
You can download the manual here.