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Private FI w/o 45 Days Cancellation Notice

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Question: 
Flood Insurance-I've been reviewing a private flood insurance policy and it doesn't have the 45 Days' Notice of Cancellation to Insured and Mortgagee. Borrower decided to apply for one issued under NFIP (ASI) and it doesn't have the 45 Days' Notice of Cancellation either. I thought if issued under NFIP it had to?
Answer: 

The 45 day notice is required by regulation to be provided to the borrower when the policy lapses in order to begin the force placement procedures.

I'm not aware of any requirement for it to be included in the policy.

First published on 05/27/2018

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