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Important NFIP Changes - Free PIA Webinar Sponsored by Hartford Flood

FEMA is making substantial revisions to the Preferred Risk Policy (PRP) eligibility for the National Flood Insurance Program (NFIP). These changes will directly affect many...
September 14, 2010

FEMA is making substantial revisions to the Preferred Risk Policy (PRP) eligibility for the National Flood Insurance Program (NFIP). These changes will directly affect many agencies that sell flood insurance and could affect some PIA agencies' current policyholders.

To help PIA members better understand these changes and how it will affect them, PIA National is hosting two free webinars at 10:30 a.m. and 2:30 p.m. Eastern time on September 27, 2010 in conjunction with our flood program partner, Hartford Flood.

FEMA has announced changes to the eligibility for PRPs to help reduce the financial burden placed on some property owners whose buildings are newly mapped from a low hazard zone into a high-risk flood area. Details about these changes and what PIA members need to do as a result of them are evolving. You can access additional background can be found in PIA's August 24th article here.

This issue is extremely time sensitive because as of October 1, 2010, FEMA/NFIP will begin sending notices to current policyholders announcing these changes and the "potential" for a reduction in their flood insurance premium if they qualify. As a result, agents who sell flood insurance are likely to receive inquiries from their policyholders who want to determine if they qualify for a premium reduction.

The changes to the NFIP's PRPs require that all PIA member agencies:

  1. Understand the changes and their effective dates
  2. Understand how their agency practices must be altered
  3. Be clear on what revised procedures are required directly of the agency and which will be directed by the WYO with which PIA members participate
  4. Be able to field their customers' many questions about these changes

PIA's webinars will be presented by:

Rita Hollada: Rita is a nationally recognized expert on the NFIP, agency operations and E&O considerations in this area. Rita is PIA National's representative to the Flood Insurance Producers National Committee.
Karen Piacenta: Karen works for Hartford Flood where she directs their PIA member flood insurance program. The Hartford Flood WYO is among the five-leading WYO insurers in the country. The Hartford is a leading insurance carrier business partner of PIA members countrywide.
Pat Borowski: Pat is a senior vice president with PIA National where she has been intimately involved with the NFIP and its impact on agents for over three decades.

Together our team brings many years of experience and expert knowledge of the many details and layers needing to be addressed in the NFIP PRP changes.

Register

To register for PIA's webinars, please click on one of the links below:

Click here to register Mon, Sep 27, 2010 10:30 AM - 11:30 AM EDT

Click here to register Mon, Sep 27, 2010 2:30 PM - 3:30 PM EDT

Questions about PIA's webinar series and the PRP changes should be directed to Pat Borowski of PIA National, at (703) 518-1360 or patbo@pianet.org.

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