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Flood Insurance- Force Place in Interim Period?

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We received notice on Oct. 28 that a borrower was now in flood zone AE. A 45 day notice was sent (force placement would have occurred on Dec. 13). On Dec. 12 we received a copy of a declaration page showing coverage starting effective Jan. 12. I believe we need to force place and then cancel on Jan. 12 at the borrower's expense however I'm getting push back because of a claim of evidence of insurance (again, the policy is not effective until Jan. 12). The declaration page shows payment in full however we do not have an application nor proof of payment. Do we need to force place this interim period?

The insurance agent screwed up and completed the flood insurance application wrong. There should have not been a 30 day waiting period for a remapped property. But yes, you should force place for the interim period.

Coverage becomes effective after a one-day waiting period during the first 13 months following the revision of a flood map in the property’s community.

First published on 02/02/2020

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