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FLOOD FACTSSPRING 2014 | A quarterly newsletter for agents of American Bankers Insurance Company of Florida. www.abicflood.com
NFIP June 1, 2014 Program Changes: A Summary
Client Claims Information
American Bankers Insurance Company of FloridaPO Box 6099Scottsdale AZ 85261-6099
8655 E Via De VenturaScottsdale, AZ 85258
Email Address: [email protected]
Phone: 1-800-245-1505Fax: 1-800-224-4170
Hours of operation: “24 Hours”Mon-Fri 5:30am-5:00pm PST
Claim status, please call:1-800-245-1505
Call the Flood Service Center at 1-800-423-4403 if you need help submitting a claim via AccessFlood.
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What would you like to see in upcoming issues of Flood Facts? Email your suggestions to Sandera.
[email protected] or Shannon McKinley@
Assurant.com.
IN THIS ISSUE
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7
5
Photograph Requirements for Quality Control
AccessFlood Webinar Training (New Schedule)
Flood Service Center Contact Information:- AccessFlood- FloodPro
Links to Additional Flood Information
NFIP Flood Training
2014 Holiday Schedule
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To view the complete Bulletin log onto the website at: http://www.nfipiservice.com/Stakeholder/pdf/bulletin/w-14014.pdf
The purpose of this bulletin is to stop charging full risk-rates for all types of Pre-Flood Insurance Rate Map (FIRM) properties covered by section 3 of the HFIAA which includes primary residences and businesses. Section 3 of the HFIAA requires FEMA and WYO companies to restore Pre-FIRM subsidized rates for the following properties: (a) Pre-FIRM properties that were not insured when Biggert Waters was enacted; (b) Pre-FIRM properties that were sold after Biggert Waters was enacted; and (c) policies for Pre-FIRM properties that were rated full-risk under Biggert Waters due to a lapse in coverage.
Effective May 1, 2014, FEMA is requiring the WYO Companies and the Direct Servicing Agent to use the appropriate October 1, 2013 Pre-FIRM Rate Tables when more favorable than full-risk rates for the following types of scenarios:
• New application for Pre-FIRM buildings rated in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D effective on or after October 1, 2013, and processed on or after May 1, 2014
• Pre-FIRM subsidized policies assigned to a new building owner upon a purchase occurring on or after July 6, 2012, where the endorsement is effective on or after October 1, 2013, and processed on or after May 1, 2014
2 | Flood Facts
Section 3 of the Homeowner Flood Insurance Affordability Act of 2014 (HR 3370) FEMA Bulletin W-14014 – Released April 15, 2014.
• Reinstatement on or after October 4, 2012, of a lapsed Pre-FIRM subsidized policy processed on or after May 1, 2014
• Renewal of all policies for Pre-FIRM buildings that were not insured when Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after May 1, 2014
• Renewal of all policies for Pre-FIRM buildings that were purchased after Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after May 1, 2014
• Pre-FIRM subsidized policies assigned to a new building owner upon a purchase occurring on or after July 6, 2012, where the endorsement is effective on or after October 1, 2013, and processed on or after May 1, 2014
• Reinstatement on or after October 4, 2012, of a lapsed Pre-FIRM subsidized policy processed on or after May 1, 2014
• Renewal of all policies for Pre-FIRM buildings that were not insured when Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after May 1, 2014
• Renewal of all policies for Pre-FIRM buildings that were purchased after Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after May 1, 2014
Homeowner Flood Insurance Affordability Act of 2014 Overview
To view the complete Bulletin log onto the website at: http://www.nfipiservice.com/Stakeholder/pdf/bulletin/w-14011.pdf
Insurance Affordability Act
On March 21, 2014, President Obama signed the Homeowner Flood Insurance Affordability Act of 2014 into law.
Overview
This law repeals and modifies certain provisions of the Biggert-Waters Flood Insurance Reform Act, which was enacted in 2012, and makes additional program changes to other aspects of the program not covered by that Act. Many provisions of the Biggert-Waters Flood Insurance Reform Act remain and are still being implemented.
While FEMA actively works to implement the new law, we encourage policyholders to maintain and keep current flood insurance policies. FEMA does NOT recommend cancelling a flood insurance policy. Cancelling flood insurance policies now will leave policyholders unprotected during spring flooding and may cause policyholders to lose important discounts on their rate if they reinstate in the future. • The new law lowers the recent rate
increases on some policies, prevents some
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Spring 2014 | 3
future rate increases, and implements a surcharge on all policyholders. The Act also repeals certain rate increases that have already gone into effect and provides for refunds to those policyholders. The Act also authorizes additional resources for the National Academy of Sciences (NAS) to complete the affordability study:
• FEMA looks forward to working with Congress, the private Write Your Own insurance companies, and other stakeholders to implement these Congressional mandated reforms and to working toward our shared goals of helping families maintain affordable flood insurance, ensuring the financial stability of the NFIP, and reducing the risks and consequences of flooding nationwide. FEMA will also continue to identify and publish special flood hazards and flood risk zones as authorized and required by Congress.
• FEMA has actively begun analyzing and
prioritizing implementation of the new law. We will be working with the private Write Your Own insurance companies in the next few weeks to seek their input and expertise prior to issuing business practice bulletins.
• It is not possible for changes to happen immediately. While the new law does require some changes to be made retroactively, applying to certain policies written after July 6, 2012, other changes require establishment of new programs, processes and procedures.
• FEMA’s initial priority is assessing potential changes to the NFIP’s business processes to stop policy increases for certain subsidized policyholders as outlined in the Act.
• FEMA also plans to issue guidance in the months ahead for the WYO insurance companies to begin issuing refunds as outlined in the law for some policyholders who were previously impacted by subsidy phase outs.
4 | Flood Facts
Section 3 of the Homeowner Flood Insurance Affordability Act of 2014 (HR 3370) FEMA Bulletin W-14014 – Released April 15, 2014.
New business applications for elevation-rated risks
must be submitted with at least 2 photographs that
show the front and back of the building and were
taken and dated within 90 days of submission (not
the certification date, if that date was earlier). If
the building is a split level or has multi-level areas
at ground level, at least 2 additional photographs
showing views of both sides of the building must be
submitted. Photographs must clearly show flood
vents in the open position.
The elevation certificate provides two blank pages
for photographs, however additional photographs
may be submitted attached to any sheet(s) of blank
paper or business letterhead. All photographs must
measure at least 3”×
3”, provide a clear
image of the entire
building including
any distinguishing
features, and the
date taken. Color
photographs are
preferred.
Photographs are very important tool used to
accurately underwrite new business applications. Any
EC submitted without the required photographs is not
considered valid for rating, unless the building is in
the course of construction.
Photograph Requirements for Quality Control
Spring 2014 | 5
Section 3 of the Homeowner Flood Insurance Affordability Act of 2014 (HR 3370) FEMA Bulletin W-14014 – Released April 15, 2014.
The Flood Service Center is committed to providing the best training programs to our Agents. Please take
advantage of this opportunity to sign up for one of the following AccessFlood Training Webinars. A number of
changes have been made recently to the AccessFlood Online System. We realize that your time is valuable
so each Webinar will last no more than 45 minutes but should save you time in the long run. For assistance
or additional information please contact 800-423-4403 x350 or x610. Let us help you write more flood business!
Log in 10 minutes early and/or test out the meeting link in advance to make sure it is compatible with your
browser. If you are unable to get in under Internet Explorer, you may want to try Google Chrome or Firefox.
ACCESSFLOOD WEBINAR TRAINING
PST MST CST EST
May 14 8:00 9:00 10:00 11:00
June 18 8:00 9:00 10:00 11:00
July 23 8:00 9:00 10:00 11:00
AccessFlood Webinar Training Schedule
To connect to an on-line AccessFlood Training Webinar click on the following link:
https://connect8.uc.att.com/assurant/meet/?ExEventID=84324748
Connect to a Webinar by calling one of the numbers below. Enter the meeting access code 5484505# when prompted.
• Toll-Free Number (in USA): 888-535-6454
• Caller-Paid number: 602-333-0063
• Blackberry (Toll-Free Number): 888-535-6454 x 5484505#
• A number in your country or in a country close to you (may be toll free):
https://www.teleconference.att.com/servlet/glbAccess?process=1&accessNumber=8885356454&accessCo
de=5484505
Click on the Flood Training Widget for more in-depth flood training. Video presentations are available on AccessFlood featuring the following topics:
• Single Page Application• Grandfathering• Flood 101• Condominiums• PRP Extensions• Elevation Certificate and Lowest Floor Guide• Unraveling the Mystery of the V Zone• Basements or Elevated• FEMA October 2012 Manual Changes
• EC Made EZ• Biggert-Waters October 2013 changes – you tube• Biggert-Waters October 2013 changes – vimeo• BW October 2013 Change Summary• June 2014 Change Summary
TRAI
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IBRA
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6 | Flood Facts
Links to Additional Flood Information
www.AbicFlood.comThe official site of the American Bankers Insurance Company of Florida.
www.FloodSmart.govThe official site of the National Flood Insurance Program (NFIP).
www.nfipiservice.com/watermark/index.htmlWATERMARK is published 3 times a year by the National Flood Insurance Program (NFIP). The current issue and selected back issues of Watermark are available at this site.
http://www.nfipiservice.com/nfip_docs.htmlThe NFIP Flood Insurance Manual is revised twice a year - once in May and once in October. The fully revised Manual (including the above changes) is available at this site. To access the chapters, just click on the chapter name.
http://www.fema.gov/about/programs/nfip/index.shtmProvides additional information about the NFIP Flood Insurance Manual and yearly revisions.
http://www.fema.gov/about/programs/nfip/index.shtm or http://www.fema.gov.Additional information on the NFIP and FEMA.
General mail address for New Business Applications, Rollovers, Endorsements, Cancellations and Other Correspondence American Bankers Insurance Company of FloridaFlood Service CenterPO Box 4337Scottsdale AZ 85261-4337
Overnight Mail AddressAmerican Bankers Insurance Company of FloridaFlood Service Center8655 E Via De VenturaScottsdale AZ 85258
Lockbox Address for Renewal Payments OnlyAmerican Bankers Insurance Company of FloridaPO Box 29861Phoenix AZ 85038-9861
Hours of OperationMonday–Friday: 6:00am - 4:00pm MSTPhone: 1-800-423-4403 | Fax: 1-714-712-3842
ABIC Flood Service Center Contact Information ................... AccessFlood
Customer Service Representatives• Email: [email protected]• Phone: 800.368.7851 Fax: 866.528.3277
Automated Status Line • Phone: 888.245.7274
Status Representative • Phone: 866.667.9739
Agency Services • Email: [email protected] • Phone: 800.368.785 Fax: 866.528.3208
Claims • Email: [email protected] • Phone: 800.654.4895 Fax: 866.528.3252
Rollover Services • Email: [email protected] • Phone: 866.796.9340 Fax: 866.528.3207
Submit-For-Rate • Email: [email protected] • Phone: 800.368.7851 Fax: 866.528.3254
Marketing and Training• Email: [email protected]• Phone: 800.423.4403 Fax: 714.712.3845
Website Technical Assistance • Website: www.ABIC.FloodPro.net• Email: [email protected] • Phone: 888.857.1000
ABIC Flood Service Center Contact Information ........................FloodPro
ONLINE WEBINARS AND WORKSHOPS
Webinars: NEW!! The NFIP is now offering Basic Agent training via a Webinar. This web based training does not provide CE Credits, unless specifically stated on their website below. The Webinar does provide a Certificate of Completion to all attendees for the FloodSmart cooperative programs and any WYO requesting proof of training.
• Workshops (classroom style): The NFIP’s workshop, “Basic Agent Flood Seminar”, provides 3 CE Credits to all licensed agents/producers except for those agents/producers licensed in the following three States (Montana, Michigan and Massachusetts) as well as agents/producers in Puerto Rico and the U.S. Virgin Islands.
For more information, on the NIFP Webinars or Workshops, please go to: http://www.nfipiservice.com/training/schedule_agents.html
***American Bankers Insurance Company of Florida offers two different Flood Insurance Training Classes that are “NFIP Compliant” for our agents and producers:
• Level I - Fundamentals of Flood Insurance. This
class covers all basic rules and requirements of completing a Standard Flood Insurance Application.
• Level II - Advanced Flood Insurance. This class would be for the more experienced agent. The class reviews the Fundamentals of Flood Insurance with emphasis on elevated buildings in Special Flood Hazard Areas, Condominiums, and coverage Limitations.
For more information on the Level I and Level II classes, including CE Credits available, please visit our website at www.abicflood.com and select Education and then select your State from the drop down box.
N F I P ’ S F L O O D T R A I N I N G
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2014 HOLIDAY SCHEDULE
Flood Service Center is closed:
Memorial Day ...............................................Monday, May 26
Independence Day ........................................... Friday, July 4
Labor Day ........................................... Monday, September 1
Thanksgiving .......................Thursday and Friday, Nov. 27 and 28
Christmas .......................... Thursday and Friday, Dec. 25 and 26