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#2265371 - 01/27/22 07:51 PM Umbrella Flood Insurance Policy
Luv2run Offline
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Joined: Jan 2015
Posts: 616
Has anyone ever seen a flood insurance policy that was issued for multiple properties? We were presented with one for our collateral that also has other additional addresses covered. We've never seen this before and are somewhat uncomfortable with it. Any thoughts?
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Flood Compliance
#2265372 - 01/27/22 07:56 PM Re: Umbrella Flood Insurance Policy Luv2run
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
You would be required to analyze it as a private flood insurance policy, like any other, in order to not accept it under the mandatory acceptance requirements.
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#2265374 - 01/27/22 08:21 PM Re: Umbrella Flood Insurance Policy Luv2run
Luv2run Offline
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Joined: Jan 2015
Posts: 616
Thank you. I think we will move forward with it. The policy information is broken out so that we can determine the property has sufficient coverage and meets all the requirements.
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