Before a federally regulated lender makes a loan secured by real property, the lender must determine whether any structures on the real property are located in a special flood hazard area (SFHA) where flood insurance is available under the National Flood Insurance Program. Flood insurance is required if a lender takes a security interest in improved real estate that is located in an SFHA. This webinar will discuss the basic flood insurance compliance requirements applicable to lenders and servicers of residential and commercial loans. Topics discussed will include identifying the right amount of coverage, determining insurable value, force-placing flood insurance, escrow of flood insurance premiums under recent final rule making, and potential enforcement actions for failure to comply with these requirements.
Below are tentative dates for the remainder of the Insurance Policyholder Webinar Series. Additional information will be sent in the coming weeks.
Thursday, September 28: Securing and Insuring the Internet of Things
Thursday, October 19: What Blockchain Means for Your Insurance
Thursday, November 9: Is That Drone Insured?