Important Updates

The NFIP Flood Manual October 1, 2008 Changes

• Updates the list of NFIP Bureau and Statistical Agent Regional Offices (REF Section);
• Explains two exceptions to the provisions for reduction or reformation of coverage limits described in the Standard Flood Insurance Policy at Paragraph G of GENERAL CONDITIONS (GR Section);
• Stipulates that, for a building to qualify for floodproofing credit in an AO Zone, where the Flood Insurance Rate Map does not provide Base Flood Elevations, the building must be floodproofed to at least 1 foot higher than the Base Flood Depth (RATE Section);
• Clarifies that individual residential condominium units in a nonresidential condominium building are not eligible for building coverage (CONDO Section);
• Clarifies that the loss history criteria determining a building’s eligibility for the Preferred Risk Policy apply to any 10-year period of the building’s existence, regardless of ownership (PRP Section);
• Clarifies certain documentation and refund eligibility requirements related to cancellation/nullification of policies (CN Section);
• Updates the Community Rating System Eligible Communities list (CRS section); and
• Adds a discussion of the Severe Repetitive Loss Pilot Grant Program and provides samples of letters that will be sent to policyholders, agents, and lenders of buildings eligible for mitigation grants (SRL Section).

For more information, visit: http://www.fema.gov/business/nfip/manual200810.shtm

May 1, 2008 Preferred Risk Policy (PRP) Changes

• 1-4 Family Condominium Unit Owners - All individual residential condominium units in residential condominium buildings are now eligible for the PRP (building and contents combination as well as contents only policy).
  
  
• Other Residential Unit Owners - Other residential unit owners now have building/contents combination as well as contents only available.
  
  
• Non-Residential - Non-residential now have a more diverse building contents combination available. Non-residential condominium unit owners are only eligible for the contents only PRP.

To see a more in depth requirements/changes for May 1, 2008, please go to: April FloodFacts.pdf

Photo Requirements 2007 (FEMA)

September 20, 2006 - All new business applications, for elevation-rated risks with a policy effective date of January 1, 2007, or later must be submitted with at least two recent photographs that show the front and back of the building and are taken and dated within 90 days of the submission date. If the building is a split-level or has multi-level areas at ground level, at least two additional photographs showing views of both sides of the building must be provided.

Photo Requirements.pdf