October 2018
Subject:
FEMA Announces the Release of the New NFIP Flood Insurance Manual
Today, FEMA released
a new, easy to use Flood Insurance Manual (FIM), which supersedes the previous FIM.
FEMA designed the FIM
with the insurance professional in mind. The newly redesigned manual aims to
make flood insurance issues and NFIP processes more understandable.
There are three
program changes announced in the new manual:
- The expanded Newly
Mapped rating eligibility (effective October 1, 2018), appears in the How
to Write section.
- FEMA added Cancellation
Reason Code 26 to the How to Cancel section of the FIM to allow
cancellation of an NFIP policy when a policyholder has obtained a
duplicate policy from sources other than the NFIP.
- Notification requirements of Preferred Risk Policy
Eligibility for certain cancellation reasons appears in the appropriate
cancellation reasons within the How to Cancel section of the FIM.
Our goal is to
facilitate the understanding of our processes and product from the points of
view of the agent, insurer, and policyholder in order to enhance reliability of
service from insurance professionals to their policyholders.
This new edition of
the FIM does not change flood insurance coverage or supersede the terms and
conditions of the Standard Flood Insurance Policy (SFIP).
The FIM is a resource
for insurance professionals as they work with FEMA to close the insurance gap.
Thank you for your participation in the NFIP and for helping us to provide
world class service to our policyholders.
Together we are
making America more flood resilient and building a culture of preparedness.
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