FEMA announced in early 2019 that the National Flood Insurance Program (NFIP) is redesigning the way NFIP policies are rated.
This memo serves to update Miniter’s position regarding our COVID-19 insurance tracking based on new guidance available from the April 27, 2020 OCC update, the Federal Reserve Q&A published May 6, 2020, and the May 7, 2019 FDIC Q&A (updated).
The Joint Agency’s Final Rule is the latest guidance for Force Placed Flood Insurance. This article answers the most common Final Rule question regarding force place flood insurance procedures. In addition to answering frequently asked questions, we share some key insights from our experience as an outsource insurance tracking vendor.