1NFC 2010 Workshop | Apr. 2010 | San Diego, CA

OBSERVATIONS FROM THE FIELD

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PRESENTERS

• Harry Butler: iService Regional & Field Support Lead

• Walter McGuckin: iService Regional Manager, Regions II and III

• Adam Lizarraga: IService Regional Manager, Region IX

• Mark Lujan: IService Regional Manager, Region VI

• Monique Pilch: iService Regional Manager, Region VII

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Overview

AGENT - OBSERVATIONS

Commonly heard statements:

“Flood Insurance is a hassle!”

“Not a big enough commission for the work.”

“The Elevation Certificate is too difficult.”

“Lenders are a pain.”

“Company not pushing us to sell.”

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AGENT – OBSERVATIONS (CONTINUTED)

Commonly heard statements (Cont.):

“Client complaining about mandatory coverage.”

“Never heard of Grandfathering.”

“When did the map change?”

“I satisfied my CE requirements.”

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• The more you write the more you learn

• The more you sell the more you earn (retention)

• Training is available for Elevation Certificates

(Underwriting Dept)

• Lender networking is a gold mine

Push yourself to grow as an agent (Pro active)

AGENT SUPPORT - SOLUTIONS

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• Stop blaming FEMA for everything

• Grandfathering awareness is vital to your client/community

• Know when the maps change, participate in community

meetings

• Continue to educate yourself (be professional)

AGENT SUPPORT – SOLUTIONS (CONTINUED)

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• Map Changes

•Rate Increases

•Rating Options

POLICY RATING - OBSERVATIONS

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• Flood Insurance Manual

• Communicating risk versus premium rating

• WYO Underwriting, iService Underwriting, and Rating Software

• Most favorable rate for insured

POLICY RATING - RESOURCES

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Pre-FIRM Buildings – One chance to lock in the zone or BFE

GRANDFATHER RULES - OBSERVATIONS

• Purchase flood insurance before the maps become

effective

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• Post-FIRM Buildings – Two chances to lock in the zone or BFE

• Purchase flood insurance before the maps become effective

• Obtain proof that the building was built in compliance at the

time it was constructed

Remember: Sometimes the rate is better using the new maps; both options should be checked!

GRANDFATHER RULES – OBSERVATIONS (Cont)

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“When my home was built, it used to be in a low-risk flood zone.”

“When my home was built, it was compliant to elevation requirements.”

GRANDFATHER RULES - WHAT TO LISTEN FOR?

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• Calculating Coverage

• Multiple Buildings on a Single Loan

•What is Insurable

• Flood Zone Discrepancies

• Notification

• Map Changes

MANDATORY PURCHASE GUIDELINES “OBSERVATIONS”

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Publication Resources:

MANDATORY PURCHASE GUIDELINES - RESOURCES

• NFIP Mandatory Purchase of Flood Insurance Guidelines

• NFIP Flood Insurance Manual

• Interagency Questions and Answers

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Online Resources:

MANDATORY PURCHASE GUIDELINES – RESOURCES (Cont)

• http://www.fema.gov/business/nfip/libfacts.shtm

• http://www.fema.gov/business/nfip/infol.shtm

• www.msc.fema.gov

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MANDATORY PURCHASE GUIDELINES – RESOURCES (Cont)

• Regulatory Agencies

• Insurance Professionals

• Local Floodplain Administrators

• NFIP Representatives

Professional Resources :

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QUESTIONS/COMMENTS