National Sep 20, 2013
October 2013 NFIP changesâ€â€
Revisions have been made to the NFIP Flood Insurance Manual [see Bulletin W-13045] that will become effective Oct. 1, 2013, which incorporates changes required for the implementation of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12).
Significant revisions include the following:
- Updates to the NFIP Servicing Agent Contact Information and NFIP Bureau and Statistical Agent Regional Offices (REF Section).
- Additional guidance for buildings with additions and extensions (GR, APP and END Sections).
- Elimination of the 30-day waiting period for new policies obtained as a result of a lender determining that flood insurance is required on an existing loan (GR Section).
- Further guidance on the assignment of a flood policy in connection with the purchase of a property (GR, APP, RATE, PRP and END Sections).
- Introduction to the Reserve Fund Assessment (GR, APP, RATE, CONDO, CN and PR Sections).
- Updated NFIP forms and revised instructions (APP, CERT, PRP, END and CN Sections).
- Revised rate tables and Federal Policy Fees for policies written or renewed on or after Oct. 1, 2013 (RATE, CONDO, PRP, MPPP and PR Sections).
- New rate tables and revised procedures for Severe Repetitive Loss Properties (APP, RATE, CONDO and SRL Sections).
- Guidance on the use of Pre-FIRM subsidized premium rates and Post-FIRM/full-risk premium rates and additional guidance on other rating scenarios (RATE Section).
- Additional instructions to determine the lowest floor for rating and updates to the Specific Building Drawings, including guidance for Pre-FIRM buildings receiving full-risk rates using elevation data (LFG Section).
- Guidance on flood proofing credit for nonresidential buildings (CERT Section).
- New premium tables for the Preferred Risk Policy Eligibility Extension (PRP Section).
- Clarification of refund rules due to map revisions (END Section).
- Updates to the renewal procedures and new notification letter for the Processing of Renewals for Certain Pre-FIRM Subsidized Policies (REN Section).
- Revisions and clarification to miscellaneous sections to support changes resulting from BW-12 (END, MPPP and LFP).
- Updates to the Community Rating System eligible communities list (CRS Section).
- Definitions, table of contents and index updates.
Below are all of the bulletins that FEMA has issued this year addressing the changes scheduled to take place on Oct. 1, 2013:
Supplemental Revisions to the Oct. 1, 2013, Program Changes
October 2013 Revisions to the NFIP Flood Insurance Manual
Oct. 1, 2013, Program Changes Impact on NFIP Grandfather Procedures
Additional Clarifications and Revisions to the Oct. 1, 2013, Program Changes
Clarifications and Revisions to the Oct. 1, 2013, Program Changes
In addition, be sure to visit the PIA Industry Resource Centers Flood Insurance Tool Kit for up-to-date information on flood-related topics.
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