Selling Notice – Acceptability of Private Flood Insurance
We implemented the private flood insurance provisions of the Biggert-Waters Act applicable to us in 2013. Under our Selling Guide, private flood insurance policies may be delivered as an alternative to National Flood Insurance Program (NFIP) policies. To qualify, the terms and amount of coverage must be at least equal to that provided under an NFIP policy based on a review of the full policy issued by the private insurer. In addition, the insurer must meet the rating requirements in the Selling Guide for property insurers.