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#2106089 - 11/04/16 06:49 PM Zone Discrepancy
terpsfan Offline
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If the we show the property as a AE and the policy has a risk rate of AE but the current zone on the policy is listed as VE would this need to be reconciled

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Flood Compliance
#2106114 - 11/04/16 08:47 PM Re: Zone Discrepancy terpsfan
David Dickinson Offline
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Yes. Ask the agent why they show AE in one place and VE in another.
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#2113692 - 01/10/17 06:38 PM Re: Zone Discrepancy David Dickinson
Millie Offline
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We have a similar situation. The flood determination shows Zone AE, however, the insurance shows Zone A5. As long as the insurance is showing a zone within A, does it need to be reconciled?

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#2113707 - 01/10/17 07:32 PM Re: Zone Discrepancy terpsfan
David Dickinson Offline
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First AE is equivalent to A1-A30.

Second, A is A is A. You don't need to worry about reconciling AE vs. AO, AH, etc. A vs. B, C, D, X is a problem. A is also not V.

(that might be the strangest couple of sentences I have ever written) wink
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#2113710 - 01/10/17 07:37 PM Re: Zone Discrepancy terpsfan
Norman Paperman Offline
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I think you misspelled AE... smirk
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#2113726 - 01/10/17 08:23 PM Re: Zone Discrepancy terpsfan
David Dickinson Offline
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Central City, NE
E, I, E, I, O
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#2113739 - 01/10/17 09:05 PM Re: Zone Discrepancy terpsfan
Millie Offline
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So as long as the flood determination is showing A?, the insurance just needs to show A? The second character of the zone is irrelevant? Can you point me to where this is stated?

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#2113746 - 01/10/17 09:18 PM Re: Zone Discrepancy terpsfan
rlcarey Offline
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Galveston, TX
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#2114111 - 01/12/17 09:49 PM Re: Zone Discrepancy terpsfan
Crazy in Compliance Offline
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Ohio
How about if the flood determination is coded AE and the flood policy is coded as AE, but the rated zone is X. Is this permissible?
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#2114131 - 01/12/17 11:31 PM Re: Zone Discrepancy terpsfan
rlcarey Offline
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Galveston, TX
Is it a preferred rate policy or grandfathered?
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#2114172 - 01/13/17 03:34 PM Re: Zone Discrepancy terpsfan
Crazy in Compliance Offline
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Ohio
It is a preferred rate policy and it says newly mapped rate.
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#2119881 - 02/28/17 08:37 PM Re: Zone Discrepancy terpsfan
Soccer Offline
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Joined: Jan 2010
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Utopia
I am in the middle of a flood review and have discovered the following:

Our determination states property in zone A, there are five buildings on the particle and all of the dec pages are showing zone C.
I spoke to the loan officer who contacted the insurance agent and the agent pulled a determination which shows zone C. I verified the address to ensure it was correct. My understanding is only a LOMA can change our determination from A to C. Is this correct?
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#2119893 - 02/28/17 08:49 PM Re: Zone Discrepancy terpsfan
Norman Paperman Offline
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You need to contact your flood vendor and find out why they are reporting zone A. I would not rely on the insurance agent. You might also ask for an aerial to show that none of those five buildings are in zone A. I've had this happen on a large parcel where the insurance agent is looking at the lower left corner of the property and the determination looks at the structure in the flood zone in the upper right corner. The flood zone may very well dissect the property.
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