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Agencies Update Flood Insurance Q&As

Posted on 10/20/2011

The federal banking agencies -- along with the Farm Credit Administration and National Credit Union Administration -- on Friday issued guidance that updates the interagency questions and answers on flood insurance published on July 21, 2009. The guidance also asks for comments on three proposed updates to Q&As related to the forced placement of flood insurance.

The guidance also finalizes two Q&As that had been proposed previously -- one relating to forced placement and the other to insurable value. There will be a 45-day comment period on the proposed updates and other issues after their publication in the Federal Register.

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