We have a loan on a primary residence to one borrower who has recently died. No other family members are left that can found.
The bank is starting to initiate foreclosure proceedings on the house. Since the deceased individual is the named insured listed on the policy is the policy still valid? No one seems to want to step forward and set up an estate account so if the house was damaged by a flood how would the bank get paid?

As long as the policy is still in force, you should be fine:

“Policyholder” refers specifically to the individual or business named in the policy itself, whereas “insured” refers to the policyholder as well as anyone who submits payment on behalf of the policyholder and who has the right to a claim payment under the policy (for example, the mortgagee).

Thanks Randy. That makes me feel better.