Florida Flood Insurance Made Simple

This comprehensive course delves into the intricacies of National Flood Insurance Program (NFIP) coverage, offering insurance agents invaluable insights to bolster their expertise in flood insurance. From understanding the mechanics of NFIP coverage to navigating eligibility rules and underwriting tips, this course equips agents with the knowledge necessary to provide top-notch service to clients.

Agents will explore crucial topics such as waiting periods, lowest floor guidelines, and evidence of insurance, gaining a deep understanding of NFIP policies and procedures. Special attention is given to complex issues like actuarial problems, repetitive loss properties, and financial challenges within the NFIP. Furthermore, agents will learn about the NFIP's relationship with private flood insurance, the Write-Your-Own Policy Program, and adjusting WYO policy claims. Through examining administrative, organizational, and financial aspects of the program, agents will develop strategies to address common problems and enhance customer satisfaction.

With insights into FEMA's role, the course addresses how the NFIP responds to hurricanes, manages data, and handles disputes over insurance claims. Additionally, agents will explore legal implications, court rulings, and recommendations for resolving subsidized policy issues.

By the course's conclusion, agents will be adept at navigating the complexities of flood insurance, equipped with the tools and knowledge to provide exceptional service and support to their clients in flood-prone areas.

Topics Covered:

• Mechanics of NFIP coverage
• Waiting periods and NFIP eligibility rules
• Underwriting tips for producers
• Lowest floor guide and evidence of insurance
• Agents’/producers’ commissions and contract agent rule
• NFIP coverage for condominiums
• NFIP’s actuarial problems
• Risks posed by “repetitive loss” properties
• NFIP’s financial issues
• NFIP and private flood insurance
• Write-Your-Own policy program and adjusting WYO policy claims
• Problems in the WYO program
• Flaws in the NFIP’s modeling and rate-setting process
• How waves and flood-proofing affect NFIP ratings
• Mixing flood elevations and public policy agendas
• NFIP’s “class-rating system”
• Problems with the NFIP’s “flood mapping” system
• Suggestions for resolving subsidized policy problems
• Serious data-management problems at FEMA
• FEMA, the NFIP and hurricanes
• Mortgage portfolio protection program
• Pollution coverage under the NFIP forms
• “Floodsmart” marketing program
• How to make claims under NFIP policies and disputes over NFIP insurance claims
• How the NFIP responds to catastrophes