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DIC Insurance Policy In Lieu of NFIP Policy?

Answered by: 

Question: 
Can a lender substitute a DIC insurance policy for a NFIP policy on commercial loans?
Answer: 

I'm uncertain what DIC insurance is. You can use private insurance instead of a NFIP policy if it meets the conditions set forth on page 57-58 of the FEMA Guidelines.

First published on BankersOnline.com 1/19/09

First published on 01/19/2009

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Filed under lending as: 

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