Do you understand the multitude of details surrounding force-placed flood insurance? They include placement timing requirements, proper notices, calculating the amount of insurance (or refunds), documentation, reading FEMA maps, and more. Examiners are increasingly citing flood violations, so it’s imperative that handling these issues becomes second nature. Examiner-cited flood violations are increasing. Issues most often arise when flood coverage lapses, and a financial institution is required to force-place coverage. This session will address best practices for monitoring and ensuring your portfolio has proper flood insurance coverage in place. It will detail when the required borrower notices must be sent, when to place coverage, and when and how the borrower can be charged for force-placed insurance. This webinar will dive deep into the flood rules and FAQs. Join this webinar to learn best practices and get a bevy of useful tools.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain force-placement timing requirements
- Properly prepare a notice of underinsured or uninsured flood insurance coverage
- Realize the amount of force-placed flood insurance is dependent on how the borrower will be charged for the premium and the loan contract
- Identify documentation necessary to demonstrate evidence of flood insurance coverage in connection with a lender’s refund of force-placed premiums
- Calculate the refunds for duplicate flood insurance coverage
- Recognize examiner-identified force-placement exceptions
- Explain the action steps required when a FEMA map changes a loan into a SFHA
TAKE-AWAY TOOLKIT
- Sample force-placed flood insurance procedures
- Sample notice of insufficient flood insurance coverage
- Force-placement transactional review checklist
- Flood insurance tracking log
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
WHO SHOULD ATTEND?
This informative session is designed for loan operations personnel, compliance officers, and anyone responsible for tracking and placing flood insurance at your institution.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
MEET THE PRESENTER
Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.
THREE REGISTRATION OPTIONS – WHAT YOU GET
1. LIVE WEBINAR 2. ON-DEMAND WEBINAR 3. BUNDLE & SAVE
- Unlimited live connections with shareable access within your institution
- Available to view on desktop, mobile & tablet devices
- Take-away toolkit
- Live Q&A session & the presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
- Unlimited and shareable access to the recording within your institution, starting two business days after the live date
- Available to view 24/7 on desktop, mobile & tablet devices
- Take-away toolkit
- Ability to download the webinar video and toolkit items
- Presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
- Save when you Bundle the Live + On-Demand Webinar Registration
- Includes all the items listed above
- Full registration descriptions can be found here
