2022 5 Danger Zones for Commercial Flood Insurance Web Rec

Member Fee:  $165
Non-Member Fee:  $265

Speaker:  Susan Costonis

Flood compliance is complicated! On May 11, 2022, the Agencies released revised and reorganized Flood Insurance Q&As, 144 of them to be exact! The revised FAQs address some areas that have changed since they were last updated in 2011; several FAQs apply directly to commercial property and contents coverage. Compliance with the flood insurance rules can present unique challenges in the commercial lending area. Commercial loan collateral may include a combination of residential and non-residential property, along with commercial inventory. These scenarios can create problem areas for complying with flood regulations. This fast-paced session will focus on the five top danger zones for commercial lenders to comply with complex flood insurance requirements.

These five danger zones are:

  • Determining proper insurance amounts
  • Calculating insurable value
  • Coverage for Multiple Buildings
  • Contents Coverage
  • Mixed-Use Properties
  • This webinar will also include highlights from the Federal Reserve’s Consumer Compliance Outlook 2022 article on Commercial Flood Insurance Compliance.

    Take Away Toolkit:

  • Matrix of 28 loan types; required disclosures for consumer and commercial loans with requirements for flood insurance
  • Checklist for commercial loans.
  • Flood insurance resources and tools for compliance
When
10/25/2022 - 4/25/2023
 

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