Flood Insurance: Compliance Issues and Enforcement Topics, including New Q&As
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Compliance with the flood insurance regulations should be easy - determine where the property is, and if it's in a flood zone, require insurance. Simple, right? Why then are there so many violations and penalties? The answer, of course, is that this seemingly simple issue has many complexities. The rules have been around since 1996, yet examiners continue to cite numerous violations and fines. Flood is always one of the regulators’ principal areas of concern. We’ve also had many changes in the law over the years. And now, finally, we have updated Interagency Questions and Answers that clarify many points regarding the changes, which is certainly welcome. There are many significant issues out there. In this webinar, we'll concentrate on them, including monitoring, contents coverage, private policies, amount of coverage, force placement, and the ever-present condo problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered. Topics
FacultyCarl PryCarl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
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