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PRIVATE FLOOD CLEARINGHOUSE
CLEARING THE WAY FOR PRIVATE FLOOD ACCEPTANCE
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Insurance Companies in Good StandingThe insurance carrier must be licensed, admitted or recognized by the State. Or recognized as a surplus line insurer by the State.
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Coverage as Broad as the NFIPThe private flood policy coverage must not contain conditions that narrow coverage compared to an NFIP policy.
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Proper Notice Provisions IncludedCancellation, non-renewal, availability of NFIP insurance, mortgage interest clause, and provision on filing suite must be included and conform to the NFIP.
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Define Flood Events CorrectlyDefine "flood" to include at least the same events defined as a flood by the NFIP.
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Deductibles Conform to NFIP ProvisionsContains deductibles no higher than the specified maximum, including non-applicability provisions, as in an NFIP policy.
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Coverages as Specified in an NFIP PolicyProvide coverage for direct physical loss caused by a flood event and only exclude other causes of loss that are excluded in an NFIP policy.
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Discretionary Acceptance ConsiderationsA lender may accept a private policy that does not meet the definition of private flood, if the policy provides sufficient protection and meets defined criteria.
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Mutual Aid SocietiesA lender may accept a plan issued by a mutual aid society if that plan satisfies specific conditions.
Individual Accounts
$
49
/ Policy
- MassiveCert Guarantee
- Compliance Certification
- No Commitments
- Pay As You Go
- Multiple User Accounts
- Low-Cost Policy Re-Certifications
- Secure Credit Card Payments
Corporate Accounts
$
49
/ Policy
- MassiveCert Guarantee
- Compliance Certification
- No Commitments
- Pay As You Go
- Multiple User Accounts
- Low-Cost Re-Certifications
- Monthly Invoicing