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Insurance Community University
Flood Insurance
1
The webinar will begin shortly.
There is no audio at this time.
This presentation is being recorded for your viewing pleasure at a future date.
The attendance and proctor forms are available under ‘Materials’ in the Webinar’s Console to the right.
The PowerPoint presentation is also available under ‘Materials’.
You will receive the course number for your state near the end of class.
Use the ‘chat’ window for questions on the content.
100% Participation in Polling Questions is required to receive credit for this class. Even if you do not intend to receive credit, please participate in the polls.
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Welcome to your Insurance Community University
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Participation & Chat Window
• You will receive information from the monitor via the ‘Chat’ window. – Please locate window in the control panel
• Q & A is welcomed during the presentation and at the end of the presentation
• You will find the question box on your control panel– Write your question in that box – and send it to the presenter/organizer
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DOI Requirements
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• If you are in a group, the designated proctor is responsible to make certain you are all in attendance at all times
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Polling
• Throughout the class we will be conducting periodic polls
• We need 100% participation on the polls• The polls are intended to check
participation but also to create discussion topics throughout the presentation
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Forms To Complete for CE
• After class ends– Return attendance form– Proctors – return your form to email
address– NOTE: These were sent to you by email
• Email address is in chat window or in email sent to you today
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DOI Requirements
• We will file your hours with the DOI after the completion of this webinar and we have received the attendance form.
• You have 48 hours to return the form• You will be sent a Certificate of
Attendance/Completion by email. Please retain this for your records for five years.
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Internet Disruption
• If the presenter looses internet connection STAY ON THE LINE
• The administrators will communicate with you
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Internet Failure
• If the internet fails and all participants are kicked off line by Go To Training or other source then the seminar will be terminated
• You will receive instructions by email as to how we will proceed
• This is a precautionary notice, only
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This class is being recorded
• Available in the University• CE is only provided for the live sessions
and does not apply to the recorded presentation
Insurance Community University
DisclaimerInsurance forms and endorsements vary based on insurance company;
changes in edition dates; regulations; court decisions; and state jurisdiction. This instructional materials provided by Insight is
intended as a general guideline and any interpretations provided by the instructor or the creator(s) of this material do not modify or
revise insurance policy language. In providing these materials, the authors assume neither liability nor responsibility to any person or
business with respect to any loss that is alleged to be caused directly or indirectly as a result of the instructional materials
provided. Copyright 2010 – 2014 All Rights Reserved
www.insurancecommunitycenter.com
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Your Instructor Today
Marjorie L. Segale, AFIS, CISC, RPLU, CIC, CRIS, ACSR, CISRInsurance Community Center, LLC
Director of EducationPresident: Segale Consulting
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What this class will cover
• Coverage gaps in “standard” property insurance
• Why the NFIP program was established• Regulations governing NFIP
– Biggert-Waters Flood Insurance Reform Act of 2012
• Sources of Claims• NFIP Coverage Review
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Coverage Gaps in Standard Property Policies
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Polling Question #1
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Standard Policies
• Commercial Property and Personal Lines property policies contain an exclusion for flood losses– Coverage still applies to certain types of water
losses, such as a broken water pipe – Very restricted coverage
• Some of these policies can include coverage for water or sump pump back up of overflow– Critical coverage that should always be requested
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Commercial Property PolicySpecial Causes Of Loss Exclusiong. Water
1) Flood, surface water, waves, tides, tidal waves, overflow of any body of water, or their spray, all whether driven by wind or not;
2) Mudslide or mudflow; 3) Water that backs up or overflows from a sewer,
drain or sump; or
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Commercial Property PolicySpecial Causes Of Loss Exclusion
4. Water under the ground surface pressing on, or flowing or seeping through: a) Foundations, walls, floors or paved surfaces; b) Basements, whether paved or not; or c) Doors, windows or other openings.
But if Water, as described in g.(1) through g.(4) above, results in fire, explosion or sprinkler leakage, we will pay for the loss or damage caused by that fire, explosion or sprinkler leakage.Exclusions B.1.a. through B.1.g. apply whether or not the loss event results in widespread damage or affects a substantial area.
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HO 00 03 Flood Exclusion
3. Water Damagea. Flood, surface water, waves, tidal water,
overflow of a body of water, or spray from any of these, whether or not driven by wind;
b. Water or water-borne material which backs up through sewers or drains or which overflows or is discharged from a sump, sump pump or related equipment; or
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HO 00 03 Flood Exclusion
c. Water or water-borne material below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure;
caused by or resulting from human or animal forces or any act of nature.Direct loss by fire, explosion or theft resulting from water damage is covered.
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Flood Facts From NFIP
http://www.floodsmart.gov/floodsmart/pages/flooding_flood_risks/flood_scenarios.jsp
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Flood Facts From NFIP
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Polling Question #2
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Flood Facts From NFIP
• If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance.
• Hurricanes, winter storms and snowmelt are common causes
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Flood Facts From NFIP• New land development can increase
flood risk.• Federal disaster assistance is usually a
loan that must be paid back with interest. • 2003-2012 Flood claims averaged more
than $3bn / year• Since 1978 NFIP has paid more than
$41.6bn in claims
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Why The NFIP Program Was Established
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NFIP Program
• In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves.
• Most insurance companies at that time did not provide any coverage for flood loss– No loss mitigation techniques in place to
reduce probable or maximum loss
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NFIP Program
• The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP.
• Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding.
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Regulations Governing NFIP
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NFIP Regulatory Information
• The NFIP is managed by Federal Emergency Management Agency– FEMA is part of the U. S. Department of
Homeland Security– FEMA works closely with nearly 90 private
insurance companies to offer flood insurance to property owners and renters.
– The program funding comes from premiums and budget as established by Congress
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NFIP Regulatory Information
• In order to qualify for flood insurance, a community must join the NFIP and agree to enforce sound floodplain management standards.
• The NFIP, a federal program, offers flood insurance, which can be purchased through property and casualty insurance agents.
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NFIP Regulatory Information
• Rates are set and do not differ from company to company or agent to agent.
• These rates depend on many factors, which include the date and type of construction of your home, along with your buildings level of risk.
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Biggert-Waters Reform Act of 2012• Extends NFIP for 5 more years• Changes all major components of the
program– Insurance– Mapping– Grants – Floodplain management
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Biggert-Waters Reform Act of 2012• Intent is to create greater financial
stability• Implementation immediate and over
time– Rate subsidy adjustments (20% of
policyholders)– Increase in premiums– New Reserve Fund assessment
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Biggert-Waters Reform Act of 2012• Intent is to create greater financial
stability• Implementation immediate and over
time– Rate subsidy adjustments (20% of
policyholders)– Increase in premiums– New Reserve Fund assessment
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Biggert-Waters Reform Act of 2012• Subsidized policyholders
– 25% premium increase per year beginning 1-1-2013
– Result will be full-risk premiums
• 80% of policyholders no premium – Will pay the 5% Reserve Fund assessment
• Does not apply to Preferred Risk Policies
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Biggert-Waters Reform Act of 2012• No subsidies for new or lapsed policies• Grandfathered mapping eliminated• All risks will use current FIRM risk data
– 5 year implementation beginning latter half of 2014
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Biggert-Waters Reform Act of 2012• Loss mitigation programs continue
– Hazard Mitigation Grant Program for long-term means after a major disaster
– Flood Mitigation Assistance to reduce or eliminate risk of flood damage to insured buildings
– Pre-Disaster Mitigation Program provides grants for States to receive PDM funds
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Sources of Claims
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Polling Question #3
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Flooding: America's #1 Natural Hazard!
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Causes of Flooding
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Causes of Flooding
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Writing Coverage Through NFIP
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NFIP
• A community establishes its eligibility to participate in the NFIP in two ways:– By adopting and enforcing floodplain
management measures to regulate new construction, and
– By ensuring that substantial improvements to existing buildings within identified Special Flood Hazard Areas (SFHAs) are designed to eliminate or minimize future flood damage.
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NFIP
• Property owners in NFIP communities may purchase flood insurance whether the building or its contents are located in or outside the floodplain
• In order to be eligible for flood insurance, a structure must have at least two solid walls and a roof, be principally above ground, and not entirely over water.
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The Write Your Own Program
• The WYO program allows a pool of participating property/casualty insurance companies to write and service the Standard Flood Insurance Policy in their own names.
• WYO companies adjust flood claims as well as settle, pay and defend all claims arising from the flood policies.
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Polling Question #4
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Emergency Program and Regular Program
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NFIP Programs
• Maximum amounts of coverage are available under the NFIP via two programs: the Emergency program and the Regular program.
• The Emergency program is the initial phase of a community’s participation in the NFIP.
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Emergency NFIP Programs
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Emergency NFIP Programs
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Regular NFIP Program
• The Regular program is the final phase of a community’s participation in the NFIP.
• In this phase, a flood insurance rate map is in effect and full limits of coverage are available.
• Nearly all participating communities are in the regular program
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Regular NFIP Program
• Coverage may include dwelling or personal property or both
• Replacement cost coverage dwelling• Actual cash value personal property
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Regular NFIP Program
• Any number of family units and individual residential condominium units and more than – Dwelling Form– $250,000 maximum building– $100,000 maximum personal property
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Regular NFIP Program
• Non-residential building– General Property Form– $500,000 maximum building– $500,000 maximum personal property
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Non-Residential - Regular NFIP Program• Includes, but is not limited to:
– Small business concerns– Churches, schools– Farm buildings (including grain bins and
silos), agricultural and industrial– Pool houses, clubhouses, recreational
buildings– Mercantile structures– Hotels, motels, nursing homes
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Residential Condominium Building Association Policy (RCBAP) - Regular NFIP Program• Condo association
– $250,000 maximum building multiplied by each unit
– $100,000 maximum personal property per building
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Tenants - Regular NFIP Program
• $100,000 maximum personal property
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Basements
• Any area below ground level on all sides– Coverage applies to structure and essential
equipment• Unfinished drywall including nonflammable
insulation• Electrical equipment, central A/C, heater,
furnace, hot water and fuel tanks• Light fixtures
• No coverage for finished walls, floors, ceilings or personal property
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NFIP Programs
• If the property is in a high-risk area• Standard Policy• Lenders require flood coverage• Outside high-risk area
– Preferred Risk Policy
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Preferred Risk Policies
• For Residential and Non Residential• For Buildings in low or moderate risk
area– No coinsurance– Same available limits– $500.00 deductible
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Preferred Risk Policy Cost ComparisonDwelling Without Basement
Building Contents Premium
$20,000 $8,000 $119
$50,000 $20,000 $196
$100,000 $40,000 $257
$250,000 $100,000 $348
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Preferred Risk Policy Cost ComparisonNon-Residential Without Basement
Building Contents Premium
$50,000 $50,000 $550
$200,000 $200,000 $1,430
$500,000 $500,000 $2,530
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Eligible Property
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Polling Question #5
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Eligible Buildings
• Insurance may be written only on a structure with two or more outside rigid walls and a fully secured roof that is affixed to a permanent site
• Buildings must resist flotation, collapse, and lateral movement
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Appurtenant Structures
• The only appurtenant structure covered by the SFIP is a detached garage at the described location, which is covered under the Dwelling Form
• Coverage is limited to no more than 10% of the limit of liability on the dwelling (reduces limit of insurance on dwelling)
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Eligible Buildings• At least 51% of the actual cash value of
buildings, including machinery and equipment, which are a part of the buildings, must be above ground level, unless the lowest level is at or above the Base Flood Elevation (BFE) and is below ground by reason of earth having been used as insulation material in conjunction with energy-efficient building techniques.
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Non-Residential Building Coverage• Building coverage for nonresidential
buildings includes: – Unfinished drywall for walls and ceilings,
including nonflammable insulation– Electrical junction and circuit breaker
boxes, and required utility connections – Central air-conditioning units
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Non-Residential Building Coverage
– Furnaces, hot-water heaters, fuel tanks, and the fuel inside tanks and heat pumps
– Light fixtures – Built-in cabinets – Foundation elements – Cleanup
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Non-Residential Contents Coverage• Contents coverage for non-residential
buildings includes: – Furniture and fixtures – Machinery and equipment – Stock (includes merchandise held in storage
for sale) – Raw materials – Unfinished or finished goods – Packing and shipping supplies.
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Underwriting Information NeededMaps and Zones
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Flood Insurance Rate Map
• Provides the designated Flood Zone information for the location– A & V - high hazard– B,C & X - low to moderate hazard– Shows CoBRA (Coastal Barrier Resource
Area)
• Shows Base Flood Elevation• Built before 12-31-74 or effective date
of FIRM whichever later
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CoBRA Zones
• Coastal Barrier Resource Area• Coastal Barriers are landforms that
protect the coast• Flood insurance not available for new
construction
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Determine The Flood Zone
• Flood maps, called Flood Insurance Rate Maps (FIRMs), define the areas likely to be flooded in a severe storm or hurricane with a one percent (1%) chance of occurrence in any given year.
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Determine The Flood Zone
• The community is divided into various flood zones with different levels of risk.
• The land surface in X Zones (called B and C Zones on older maps) is above the base flood elevations and is not typically regulated.
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Determine The Flood Zone
• The most common areas expected to flood are called AE Zones (also called A Zones followed by a number on older maps, e.g. A12).
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Determine The Flood Zone
• VE Zones (also called V Zones followed by a number on older maps, i.e. V12) are found in coastal areas where waves greater than three feet are predicted to accompany the base flood.
• Flood insurance rates are usually lowest in X Zones, higher in AE Zones and highest in VE Zones
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Determine Age of the Building
• When the National Flood Insurance Program started, subsidized rates for flood insurance were offered and are still available for buildings constructed prior to the effective date of the first FIRM for the community.
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Determine Age of the Building
• These older, pre-FIRM buildings are “grandfathered” and may be rated at subsidized pre-FIRM rates to encourage communities to adopt at least the minimum construction standards and building elevation requirements.
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Determine Age of the Building
• Rates for most pre-FIRM buildings are generally higher than rates for post-FIRM structures, except in VE Zones.
• The effective date for the first FIRM and a history of its map changes by date are listed in the Flood Insurance Study report and on the FIRM Index panel for you county.
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Determine Age of the Building
• If substantial improvements (usually more than 50% of the market value of the building in any year), are made the building loses its pre-FIRM grandfathering. It is then considered to be post-FIRM and must comply with the present construction regulations, regardless of when it was originally constructed.
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Elevation Certificates
• Not required– For all pre-FIRM– For post FIRM B,C,X,A99,D AND AR
• Required– For post FIRM A1-A30, AE,AH,V1-V30 and
VE
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Where To Obtain Elevation Certificate• Check with City Building and Safety
department• Contract with a licensed land surveyor
to issue a new one
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Identify Lowest Floor Elevation
• For post-FIRM homes, flood insurance rates are based on the lowest floor elevation.
• Typically, the lowest floor is the lowest inhabitable area of your home. Lowest floor elevations must be certified by a registered land surveyor on a FEMA form called the Elevation Certificate.
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Identify Lowest Floor Elevation
Minimum Elevation AE Zone VE Zone
Added Elevation: 1 foot $842 $1,720
Added Elevation + 2 feet $495 $1,313
Added Elevation + 3 feet $381 $905
Added Elevation + 4 feet $278 $625
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Factors In Determining Premium
• Date of construction (date of the original building permit if it is close to the effective date of a FIRM)
• A completed FEMA Elevation Certificate prepared by a registered land surveyor which includes the lowest floor elevation data damage
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Factors In Determining Premium• The dates of any substantial changes
and/or improvements– A renovation, addition and/or change valued
at greater than 50% of the market value of the building prior to improvement or
• A copy of the flood maps effective at the time of original construction if the flood zones or base flood elevations have been revised since that date.
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Factors In Determining Premium
• Where is property located– Regular– Emergency
• What is the building occupancy?• Number of floors• The replacement cost of the building(s)• The limit of insurance requested• The deductible chosen
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Coverage Provided By The NFIP Policy
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Covered Property and Costs
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Covered Property and Costs
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Excluded Property
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Insuring Agreement
• We will pay you for direct physical loss by or from flood to your insured property if you:– Have paid the correct premium;– Comply with all terms and conditions of this policy;
and – Have furnished accurate information and
statements.
• We have the right to review the information you give us at any time and to revise your policy based on our review.
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NFIP Policy Definition of Flood
• Flood - A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policy-holder's property) from one of the following:
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Polling Question #5
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NFIP Policy Definition of Flood
– Overflow of inland or tidal waters– Unusual and rapid accumulation or runoff
of surface waters from any source– Mudflow – Collapse or subsidence of land along the
shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above
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Other Definitions
• Base Flood– 1% chance in any year
• Building– Walled and roofed structure– Manufactured Home-permanent
foundation
• Walled and roofed bldg
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Other Definitions
• Expense Constant– Federal Government Charge – $45.00
• Federal Policy Fee– NFIP Charge in addition to expense
constant– $30.00
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Property Covered
• COVERAGE A - BUILDING PROPERTY– Building in COC– Condominium Unit – Assessments– Fixtures not covered under B
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Polling Question #6
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Property Covered
• COVERAGE B - PERSONAL PROPERTY– Owned by you– Owned by members of family in household– Owned by guest or servants– In building
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Special limits
• $2,500 total for– Artworks, Photographs, collectibles– Rare books– Jewelry, watches, gold silver– Furs– Business Property in dwelling
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Property Covered
• COVERAGE C - OTHER COVERAGES– Debris Removal– Loss Avoidance Measures
• Sandbags, Supplies, and Labor• Property Removed to Safety
– Condominium Loss Assessments– Included in limits– Must be directly caused by flood– Includes non-owned debris on property
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Property Covered
• COVERAGE D - INCREASED COST OF COMPLIANCE– Pays to comply with a State or local
floodplain management law or ordinance affecting repair or reconstruction of a structure suffering flood damage.
– ICC pays to elevate, flood proof, demolish or relocate insured building up to $30,000
– Coverage is in addition to building limit
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Property Covered
– Eligible flood proofing activities are limited to:
• Nonresidential structures• Residential structures with basements that
satisfy FEMA's standards published in the Code of Federal Regulations [44 CFR 60.6 (b) or (c)].
– Coverage for both Coverage A and Coverage D is the maximum limit permitted under the Act.
– No separate deductible107
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Property Not Covered
• Accounts, bills, currency, deeds, evidences of debt, money, coins, medals, postage stamps, securities, bullion, manuscripts, other valuable papers or records
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Property Not Covered
• Other Personal Property– Animals, livestock, birds and fishes– Aircraft, motor vehicle, and watercraft– Property in basements– Manufactured homes not anchored– Gas tanks
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Exclusions
A. We only provide coverage for direct physical loss by or from flood, which means that we do not pay you for:1. Loss of revenue or profits;2. Loss of access to the insured property or
described location;3. Loss of use of the insured property or described
location;4. Loss from interruption of business or
production;
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Exclusions
5. Any additional living expenses incurred while the insured building is being repaired or is unable to be occupied for any reason;
6. The cost of complying with any ordinance or law requiring or regulating the construction, demolition, remodeling, renovation, or repair of property, including removal of any resulting debris. This exclusion does not apply to any eligible activities that we describe in Coverage D - Increased Cost of Compliance; or
7. Any other economic loss.
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Exclusions
B. We do not insure a loss directly or indirectly caused by a flood that is already in progress at the time and date:1. The policy term begins; or2. Coverage is added at your request.
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Exclusions
C. We do not insure for loss to property caused directly by earth movement even if the earth movement is caused by flood. Some examples of earth movement that we do not cover are:1. Earthquake;2. Landslide;3. Land subsidence;
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Exclusions
4. Sinkholes;5. Destabilization or movement of land that results
from accumulation of water in subsurface land area; or
6. Gradual erosion.
We do, however, pay for losses from mudflow and land subsidence as a result of erosion that are specifically covered under our definition of flood (see II.A.1.c. and II.A.2.).
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Exclusions
D. We do not insure for direct physical loss caused directly or indirectly by any of the following:1. The pressure or weight of ice;2. Freezing or thawing;3. Rain, snow, sleet, hail, or water spray;
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Exclusions
4. Water, moisture, mildew, or mold damage that results primarily from any condition:a. Substantially confined to the dwelling; orb. That is within your control, including but not
limited 1. Design, structural, or mechanical defects;2. Failure, stoppage, or breakage of water or sewer lines, drains, pumps, fixtures, or equipment; or3. Failure to inspect and maintain the property after a flood recedes;
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Exclusions
5. Water or waterborne material that:a. Backs up through sewers or drains;b. Discharges or overflows from a sump, sump
pump, or related equipment; orc. Seeps or leaks on or through the covered
property;
unless there is a flood in the area and the flood is the proximate cause of the sewer or drain backup, sump pump discharge or overflow, or seepage of water;
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Exclusions6. The pressure or weight of water unless there is a
flood in the area and the flood is the proximate cause of the damage from the pressure or weight of water;
7. Power, heating, or cooling failure unless the failure results from direct physical loss by or from flood to power, heating, or cooling equipment on the described location;
8. Theft, fire, explosion, wind, or windstorm;9. Anything you or any member of your household
do or conspire to do to cause loss by flood deliberately; or
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Exclusions
10. Alteration of the insured property that significantly increases the risk of flooding.
11. We do not insure for loss to any building or personal property located on land leased from the Federal Government, arising from or incident to the flooding of the land by the Federal Government, where the lease expressly holds the Federal Government harmless under flood insurance issued under any Federal Government program.
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National Flood Program Earth Movement ExclusionL. Theft, fire, windstorm, wind, explosion, land sinkage,
landslide, destabilization or movement of land resulting from the accumulation of water in subsurface land areas, gradual erosion, or any other earth movement except such mud slides (i.e., mud flows) or erosion as is covered under the peril of flood.
M. We do not pay for the testing for or monitoring of pollutants unless required by law or ordinance.
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Terms and Conditions
Policy Renewal1. This policy will expire at 12:01 a.m. on the last
day of the policy term.2. We must receive the payment of the
appropriate renewal premium within 30 days of the expiration date.
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Loss Settlement
V. Loss Settlement 1. Introduction This policy provides three methods of
settling losses:• Replacement Cost• Special Loss Settlement • Actual Cash Value
Each method is used for a different type of property.
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Replacement Cost
• Applies to the dwelling– Principal place of residence at least 80% of
time
• Does not apply to– Condo Unit not used as single family
dwelling– Antennas and outdoor equipment– Carpeting and appliances
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Replacement Cost
• Limit must be at least 80% of RC• If less pays larger of ACV or 80% of RC• Loss under $1,000 pays RC• Cost of underground not used in value
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Loss Settlement
• Special loss settlement, applies to a single-family dwelling that is a manufactured or mobile home or a travel trailer.
• Actual Cash Value loss settlement applies to a single-family dwelling not subject to replacement cost or special loss settlement
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Policy Effective Date
• 12:01 a.m., local time, on the 30th calendar day– Some exceptions
• Newly purchased property• New Lender• Federal land wildfire – purchased within 60 days of
containment
• Evidence of Insurance day after the application date and presentment of premium
• No oral binders
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Waiting Period
• 30-day waiting period for new applications and for endorsements increasing coverage.– If the application or endorsement form and the
premium payment are received at the NFIP within 10 days from the date of application or endorsement request, or if mailed by certified mail within 4 days from the date of application or endorsement request - waiting period will be calculated from the application or endorsement date.
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Waiting Periods
• If the application or endorsement form and the premium payment are received at the NFIP after 10 days from the date of application or endorsement request, or are not mailed by certified mail within 4 days from the date of application or endorsement request - waiting period will be calculated from the date the NFIP receives the application or endorsement.
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Waiting Periods
• Use the application date or endorsement date plus 9 days to determine if the application or endorsement and premium payment were received within 10 days.
• When sent by certified mail, use the application date or endorsement date plus 3 days to determine if the application or endorsement and premium payment were received within 4 days.
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Effective Date
• New Policy – Subject to waiting period
• New Policy with a loan being processed– Effective at the time of loan closing,
provided that the policy is applied for and the presentment of premium is made at or prior to the loan closing.
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Effective Date
• New policy required by lender– The 30-day waiting period does not apply
when flood insurance is required as a result of a lender determining that a loan on a building in a Special Flood Hazard Area (SFHA) that does not have flood insurance coverage should be protected by flood insurance.
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Effective Date
• Insured owns land that has been affected by flooding from wildfire conditions on Federal land– Must purchase the flood insurance within
60 days of containment of the wildfire• 30 day period does not apply
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Advise Your Clients About Flood Insurance
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Common Myths About NFIP
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The Facts About NFIP
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Summary
• This can be a critical coverage need– Loss and no coverage can mean total
devastation for a family or business
• Whether the bank requires it or not, offer this coverage at each renewal
• Protect your client AND reduce your E & O exposure
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Upcoming Classes
4/10 Workers Compensation 5 Key Issues
4/15 Construction Contracts
4/22 Insight on Insurance Proposals and Submissions
4/24 Insight on Crime Insurance