Thread Starter: Anonymous
Title: Re: Flood Insurance - Not issued during hurricane
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We have a commercial loan renewal that we trying to close and need increased flood coverage because the current policy in force is no longer adequate. The agency will not issue anything right now, because this property is in south Texas and hurricane Dean is in process further south. Are there any exceptions in the Purchase Guidelines that address this? I don't know of anything. Do we literally have to delay closing on this loan? I understand an insurance agent's limitations in a situation like this, but do they only have to delay issuing coverage until the hurricane passes, or are there additional time constraints during the aftermath?
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