Hello,
Im new to flood, so pardon my ignorance, but im having a hard time wrapping my head around what is needed on a private policy declarations page -- Is there any guidance surrounding that ?
We have a commercial borrower (commercial building), that merely added flood coverage to an existing policy and because it’s not through the nfip – they (and the loan officer) are claiming that’s sufficient.
My question is..... is it ?
Also, this is going to sound like a stupid question, but we can’t force them to get a policy through the nfip anymore, right ?
Thanks!