Industry Awareness
Notification of Changes to National Flood Insurance Program
Changes Effective October 1, 2009 to the National Flood Insurance Program (NFIP)
The Federal Emergency Management Agency's (FEMA) National Flood
Insurance Program has implemented numerous changes effective October
1, 2009. These changes modified the Flood Insurance Manual, the
Transaction Record Reporting and Processing (TRRP) Plan, and the
Edit Specifications document. To review the details of the
Program changes, please click
here.
There will be an increase in rates, the standard deductibles,
and the basic insurance limits. These combined changes will result
in an average premium increase of 8 percent. Many policyholders will
have questions about these changes. To help you best serve your
clients, a number of "Answers
to Possible Questions” have been developed by the NFIP to help
your customers better understand how these changes will affect them.
To review them, please click
here.
Agents can locate approved courses that cover the Federal Flood Program by searching our Education search engine.
- Once there, the radio button should be highlighted for CE (Continuing Education).
- Click on Perform An Advanced Search.
- Fill in the Course Authority Field using the CE 2-20 authority.
- Click on the Subject Area Field and select CE220-Flood-National Flood Program Approved Course.
- Click on the Study Method Field and select the study method that is desired. If classroom or seminar study methods are selected, the system will require a region or county to be selected as well.
When floodmap changes occur, the National Flood Insurance Program (NFIP) provides a lower-cost flood insurance option known as “grandfathering.” The NFIP has provided a Grandfathering Rules Fact Sheet to assist agents understand this process and offer it to their customers who meet the criteria.
If you have questions regarding these changes, please e-mail the National Flood Insurance Program at info@femafloodsmart.com.
