Compliance with flood insurance regulations should be straightforward: determine where the structure is located (assuming it is insurable) and, if it lies within a designated flood zone, require flood insurance. Simple—right? If so, why do financial institutions continue to face so many violations and costly penalties?

The reality is that flood insurance compliance, while seemingly simple, is filled with complexities. Compounding the challenge, flood insurance regulations are among the few regulatory areas that mandate the assessment of civil money penalties when a pattern or practice of violations is identified.

Although the rules have been in place since 1996 (and the statutory framework even longer), examiners continue to cite numerous violations and fines. Flood insurance remains one of regulators’ principal areas of focus. Over the years, statutory changes and regulatory clarifications have further evolved the requirements. Fortunately, detailed Interagency Questions and Answers now provide guidance on many of these changes—but significant compliance challenges still remain.

In this full-day streaming event, we will focus on the most critical and problematic flood insurance issues, including:

• Flood determinations and disputes
• Flood mapping, including Risk Rating 2.0
• Monitoring requirements
• Contents coverage
• Private flood insurance policies
• Coverage amounts
• Force placement requirements
• Escrow rules and expectations

Special attention will be given to the issues that most often cause problems for lenders and those that are frequently cited by regulators as sources of violations and penalties.

Participants will also receive links to numerous helpful resources. Come prepared with your questions—this program is designed to help you fully understand the intricacies of flood insurance regulations and ensure your policies and procedures are accurate, compliant, and up to date.