Part I: Flood Insurance: Requirements and Best Practices

- A Two-Part Companion Webinar Series (To include ALL 2014 Homeowner Flood Insurance Affordability Act updates spread over both sessions)

Flood insurance requirements must be taken seriously and cannot be ignored. Banks must take a proactive approach to ensure they stay out of trouble. While the total penalty assessed to a bank may seem small, there is also a huge reputational and civil liability risk that goes along with flood insurance violations.

In October 2011, the Agencies finalized their Interagency Questions and Answers Regarding Flood Insurance. This release attempted to bring a more definitive approach to calculating insurable value, which honestly has been one of the hardest requirements for banks. In July 2012 Congress passed the Biggert-Waters Act and then in March 2014 the Homeowner Affordability Act. Much confusion has surrounded these new laws. This webinar will thoroughly cover this guidance regarding insurable value, the Biggert-Waters Act and Homeowner Affordability Act requirements.

Join BOL Gurus David Dickinson (CRCM) and Jerod Moyer (CRCM) in a two part webinar series as they provide guidance for implementing the mandatory purchase provisions. Each webinar will bring uniformity and understanding of the requirements of the law and will be packed with insight to manage the daily challenges banks face when they make, increase, renew or extend a loan. This is truly four hours of training broken into two complementary companion webinars without duplication. Part I is not a "basics" session and Part II is not "advanced". To achieve a full understanding of the flood insurance rules and requirements participants are encouraged to register for both webinars.

"Flood Insurance: Requirements and Best Practices, Part I" is the first installment of the two-part companion flood insurance webinar series.

Part 1 covers:

• Current Events (FAQs, CMPs, etc.) Risk Management
• Coverage (type and Amount) Tripwires
• Guidance
• Flood Determinations
• Special Flood Hazard Notice
• Required Amounts
• Insurable Value
• Regulatory Requirements vs. Insurance Industry Practices Penalties for Non Compliance
• Best Practices
• Mandatory Purchase Requirements

WHO SHOULD ATTEND:
This information will be useful for management, loan officers, loan operations personnel and compliance officers.