FLOOD FACTS SPRING 2014 A quarterly newsletter for agents of American Bankers Insurance Company of Florida. www.abicflood.com Client Claims Information American Bankers Insurance Company of Florida PO Box 6099 Scottsdale AZ 85261-6099 8655 E Via De Ventura Scottsdale, AZ 85258 Email Address: claims.department@assurant.com Phone: 1-800-245-1505 Fax: 1-800-224-4170 Hours of operation: 24 Hours Mon-Fri 5:30am-5:00pm PST Claim status, please call: 1-800-245-1505 Call the Flood Service Center at 1-800-423-4403 if you need help submitting a claim via AccessFlood. IN THIS ISSUE 2 4 5 6 7 NFIP June 1, 2014 Program Changes: A Summary Photograph Requirements for Quality Control AccessFlood Webinar Training (New Schedule) Flood Service Center Contact Information: - AccessFlood - FloodPro Links to Additional Flood Information NFIP Flood Training 2014 Holiday Schedule What would you like to see in upcoming issues of Flood Facts? Email your suggestions to Sandera. Potenziani@Assurant.com or Shannon McKinley@ Assurant.com.
Section 3 of the Homeowner Flood Insurance Affordability Act of 2014 (HR 3370) FEMA Bulletin W-14014 Released April 15, 2014. To view the complete Bulletin log onto the website at: http://www.nfipiservice.com/stakeholder/ pdf/bulletin/w-14014.pdf The purpose of this bulletin is to stop charging full risk-rates for all types of Pre- Flood Insurance Rate Map (FIRM) properties covered by section 3 of the HFIAA which includes primary residences and businesses. Section 3 of the HFIAA requires FEMA and WYO companies to restore Pre-FIRM subsidized rates for the following properties: (a) Pre-FIRM properties that were not insured when Biggert Waters was enacted; (b) Pre- FIRM properties that were sold after Biggert Waters was enacted; and (c) policies for Pre- FIRM properties that were rated full-risk under Biggert Waters due to a lapse in coverage. Effective, FEMA is requiring the WYO Companies and the Direct Servicing Agent to use the appropriate October 1, 2013 Pre-FIRM Rate Tables when more favorable than full-risk rates for the following types of scenarios: New application for Pre-FIRM buildings rated in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D effective on or after October 1, 2013, and processed on or after Pre-FIRM subsidized policies assigned to a new building owner upon a purchase occurring on or after July 6, 2012, where the endorsement is effective on or after October 1, 2013, and processed on or after 2 Flood Facts
Reinstatement on or after October 4, 2012, of a lapsed Pre-FIRM subsidized policy processed on or after buildings that were not insured when Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after buildings that were purchased after Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after Pre-FIRM subsidized policies assigned to a new building owner upon a purchase occurring on or after July 6, 2012, where the endorsement is effective on or after October 1, 2013, and processed on or after Reinstatement on or after October 4, 2012, of a lapsed Pre-FIRM subsidized policy processed on or after buildings that were not insured when Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after buildings that were purchased after Biggert Waters was enacted in zones Unnumbered A, AE, A1-A30, AH, AO, V, VE, V1-V30 and D processed on or after Homeowner Flood Insurance Affordability Act of 2014 Overview To view the complete Bulletin log onto the website at: http://www.nfipiservice.com/stakeholder/ pdf/bulletin/w-14011.pdf Insurance Affordability Act On March 21, 2014, President Obama signed the Homeowner Flood Insurance Affordability Act of 2014 into law. Overview This law repeals and modifies certain provisions of the Biggert-Waters Flood Insurance Reform Act, which was enacted in 2012, and makes additional program changes to other aspects of the program not covered by that Act. Many provisions of the Biggert- Waters Flood Insurance Reform Act remain and are still being implemented. While FEMA actively works to implement the new law, we encourage policyholders to maintain and keep current flood insurance policies. FEMA does NOT recommend cancelling a flood insurance policy. Cancelling flood insurance policies now will leave policyholders unprotected during spring flooding and may cause policyholders to lose important discounts on their rate if they reinstate in the future. The new law lowers the recent rate increases on some policies, prevents some (continued on next page) Spring 2014 3
Section 3 of the Homeowner Flood Insurance Affordability Act of 2014 (HR 3370) FEMA Bulletin W-14014 Released April 15, 2014. future rate increases, and implements a surcharge on all policyholders. The Act also repeals certain rate increases that have already gone into effect and provides for refunds to those policyholders. The Act also authorizes additional resources for the National Academy of Sciences (NAS) to complete the affordability study: FEMA looks forward to working with Congress, the private Write Your Own insurance companies, and other stakeholders to implement these Congressional mandated reforms and to working toward our shared goals of helping families maintain affordable flood insurance, ensuring the financial stability of the NFIP, and reducing the risks and consequences of flooding nationwide. FEMA will also continue to identify and publish special flood hazards and flood risk zones as authorized and required by Congress. FEMA has actively begun analyzing and prioritizing implementation of the new law. We will be working with the private Write Your Own insurance companies in the next few weeks to seek their input and expertise prior to issuing business practice bulletins. It is not possible for changes to happen immediately. While the new law does require some changes to be made retroactively, applying to certain policies written after July 6, 2012, other changes require establishment of new programs, processes and procedures. FEMA s initial priority is assessing potential changes to the NFIP s business processes to stop policy increases for certain subsidized policyholders as outlined in the Act. FEMA also plans to issue guidance in the months ahead for the WYO insurance companies to begin issuing refunds as outlined in the law for some policyholders who were previously impacted by subsidy phase outs. Photograph Requirements for Quality Control New business applications for elevation-rated risks must be submitted with at least 2 photographs that show the front and back of the building and were taken and dated within 90 days of submission (not the certification date, if that date was earlier). If the building is a split level or has multi-level areas at ground level, at least 2 additional photographs showing views of both sides of the building must be submitted. Photographs must clearly show flood vents in the open position. The elevation certificate provides two blank pages for photographs, however additional photographs may be submitted attached to any sheet(s) of blank paper or business letterhead. All photographs must measure at least 3 3, provide a clear image of the entire building including any distinguishing features, and the date taken. Color photographs are preferred. Photographs are very important tool used to accurately underwrite new business applications. Any EC submitted without the required photographs is not considered valid for rating, unless the building is in the course of construction. 4 Flood Facts
ACCESSFLOOD WEBINAR TRAINING The Flood Service Center is committed to providing the best training programs to our Agents. Please take advantage of this opportunity to sign up for one of the following AccessFlood Training Webinars. A number of changes have been made recently to the AccessFlood Online System. We realize that your time is valuable so each Webinar will last no more than 45 minutes but should save you time in the long run. For assistance or additional information please contact 800-423-4403 x350 or x610. Let us help you write more flood business! Log in 10 minutes early and/or test out the meeting link in advance to make sure it is compatible with your browser. If you are unable to get in under Internet Explorer, you may want to try Google Chrome or Firefox. AccessFlood Webinar Training Schedule PST MST CST EST May 14 8:00 9:00 10:00 11:00 June 18 8:00 9:00 10:00 11:00 July 23 8:00 9:00 10:00 11:00 To connect to an on-line AccessFlood Training Webinar click on the following link: https://connect8.uc.att.com/assurant/meet/?exeventid=84324748 Connect to a Webinar by calling one of the numbers below. Enter the meeting access code 5484505# when prompted. Toll-Free Number (in USA): 888-535-6454 Caller-Paid number: 602-333-0063 Blackberry (Toll-Free Number): 888-535-6454 x 5484505# A number in your country or in a country close to you (may be toll free): https://www.teleconference.att.com/servlet/glbaccess?process=1&accessnumber=8885356454&accessco de=5484505 Click on the Flood Training Widget for more in-depth flood training. Video presentations are available on AccessFlood featuring the following topics: TRAINING LIBRARY Single Page Application Grandfathering Flood 101 Condominiums PRP Extensions Elevation Certificate and Lowest Floor Guide Unraveling the Mystery of the V Zone Basements or Elevated FEMA October 2012 Manual Changes EC Made EZ Biggert-Waters October 2013 changes you tube Biggert-Waters October 2013 changes vimeo BW October 2013 Change Summary June 2014 Change Summary Spring 2014 5
ABIC Flood Service Center Contact Information... AccessFlood General mail address for New Business Applications, Rollovers, Endorsements, Cancellations and Other Correspondence American Bankers Insurance Company of Florida Flood Service Center PO Box 4337 Scottsdale AZ 85261-4337 Overnight Mail Address American Bankers Insurance Company of Florida Flood Service Center 8655 E Via De Ventura Scottsdale AZ 85258 Hours of Operation Monday Friday: 6:00am - 4:00pm MST Phone: 1-800-423-4403 Fax: 1-714-712-3842 Email agencybrokerchange@assurant.com flood.marketing.support@assurant.com flood.rollovers@assurant.com flood.service.center@assurant.com submitforrate@assurant.com Lockbox Address for Renewal Payments Only American Bankers Insurance Company of Florida PO Box 29861 Phoenix AZ 85038-9861 ABIC Flood Service Center Contact Information... FloodPro Customer Service Representatives Email: CustomerService@ABIC.FloodPro.net Phone: 800.368.7851 Fax: 866.528.3277 Automated Status Line Phone: 888.245.7274 Status Representative Phone: 866.667.9739 Agency Services Email: AgencyServices@ABIC.FloodPro.net Phone: 800.368.785 Fax: 866.528.3208 Claims Email: Claims@ABIC.FloodPro.net Phone: 800.654.4895 Fax: 866.528.3252 Rollover Services Email: Rollover@ABIC.FloodPro.net Phone: 866.796.9340 Fax: 866.528.3207 Submit-For-Rate Email: SubmitForRate@ABIC.FloodPro.net Phone: 800.368.7851 Fax: 866.528.3254 Marketing and Training Email: Flood.Marketing.Support@assurant.com Phone: 800.423.4403 Fax: 714.712.3845 Website Technical Assistance Website: www.abic.floodpro.net Email: Tech@floodpro.net Phone: 888.857.1000 Links to Additional Flood Information www.abicflood.com The official site of the American Bankers Insurance Company of Florida. www.floodsmart.gov The official site of the National Flood Insurance Program (NFIP). www.nfipiservice.com/watermark/index.html WATERMARK is published 3 times a year by the National Flood Insurance Program (NFIP). The current issue and selected back issues of Watermark are available at this site. http://www.nfipiservice.com/nfip_docs.html The NFIP Flood Insurance Manual is revised twice a year - once in May and once in October. The fully revised Manual (including the above changes) is available at this site. To access the chapters, just click on the chapter name. http://www.fema.gov/about/programs/nfip/index. shtm Provides additional information about the NFIP Flood Insurance Manual and yearly revisions. http://www.fema.gov/about/programs/nfip/index. shtm or http://www.fema.gov. Additional information on the NFIP and FEMA. 6 Flood Facts
NFIP S FLOOD TRAINING ONLINE WEBINARS AND WORKSHOPS Webinars: NEW!! The NFIP is now offering Basic Agent training via a Webinar. This web based training does not provide CE Credits, unless specifically stated on their website below. The Webinar does provide a Certificate of Completion to all attendees for the FloodSmart cooperative programs and any WYO requesting proof of training. Workshops (classroom style): The NFIP s workshop, Basic Agent Flood Seminar, provides 3 CE Credits to all licensed agents/producers except for those agents/producers licensed in the following three States (Montana, Michigan and Massachusetts) as well as agents/producers in Puerto Rico and the U.S. Virgin Islands. For more information, on the NIFP Webinars or Workshops, please go to: http://www.nfipiservice.com/ training/schedule_agents.html ***American Bankers Insurance Company of Florida offers two different Flood Insurance Training Classes that are NFIP Compliant for our agents and producers: Level I - Fundamentals of Flood Insurance. This class covers all basic rules and requirements of completing a Standard Flood Insurance Application. Level II - Advanced Flood Insurance. This class would be for the more experienced agent. The class reviews the Fundamentals of Flood Insurance with emphasis on elevated buildings in Special Flood Hazard Areas, Condominiums, and coverage Limitations. For more information on the Level I and Level II classes, including CE Credits available, please visit our website at www.abicflood.com and select Education and then select your State from the drop down box. 2014 HOLIDAY SCHEDULE Flood Service Center is closed: Memorial Day...Monday, May 26 Independence Day... Friday, July 4 Labor Day... Monday, September 1 Thanksgiving...Thursday and Friday, Nov. 27 and 28 Christmas... Thursday and Friday, Dec. 25 and 26 SPRING 2014 7