May 27, 2010
Flood Insurance Program set to lapse for the FOURTH time this year!
Congress will be adjourning without passing a bill that will reauthorize the National Flood Insurance Program (NFIP)
March 30, 2010
Flood Insurance:Regulators Issue Guidance to Allow Loan Closings During NFIP Lapse
According to a bulletin just received from Fidelity Property & Casualty Insurance Company: Three of the nation’s largest lending authorities have issued guidance to administer the federal flood insurance regulations during the current NFIP lapse in authority. Although each lending authority notes considerations, the consensus is, in most cases, loan
March 26, 2010
NFIP Lapse and Hiatus Guidelines
Due to the hiatus until the re-authorization of the NFIP has occurred, we will not be able: Issue new policies Increase coverage on existing policies Issue renewal policies If you have an escrow closing between 3/28 and 4/12 in a designated flood hazard area you will not be able to secure flood
March 26, 2010
Congress Convened Before Passing Bill to Reauthorize NFIP
According to a bulletin I just received from Travelers Insurance Company regarding the National Flood Insurance Program (which pertains to all companies that write policies with the National Flood Insurance Program): Congress has adjourned without passing a bill that would reauthorize the National Flood Insurance Program (NFIP) beyond March 28, 2010.