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NFIP Issues Another Addendum to June 1 Changes

The National Flood Insurance Program has issued iService Bulletin w-14006, 04/14/14), the third addendum to the main NFIP bulletin (W-13070), which outlines the changes effective June 1, 2014...
February 20, 2014

The National Flood Insurance Program (NFIP) has issued iService Bulletin w-14006 (04/14/14), the third addendum to the main NFIP bulletin (w-13070), which outlines the changes effective June 1, 2014.

This latest addendum modifies the following bulletins relative to the June 1, 2014 changes: w-13070, w-14001, w-14003 and w-14006. Taken together, they form the current official FEMA/NFIP policies on the changes that are outlined. More changes are expected.

This latest addendum (w-14006) includes two sets of modifications that affect two separate, previously issued bulletins:

1. Modifies NFIP Bulletin, Addendum (w-14001) by revising deductible factors in Rating section Table 8B – Deductible Factors, for single-family and 2-4 family buildings with both Coverage A and Coverage B (building and contents). These additional updates are shown in red text.

2. Modifies NFIP Bulletin w-13070 (the main/master bulletin for June 1 changes) by delaying the requirement for insurers to send a notice to policyholders concerning duplicate coverage.

Originally, FEMA required that for all policies with a policy expiration date on or after June 1, 2014, at least 90 days prior to the policy expiration date, insurers must send a notice to the insured and agent for all policies covering residential and non-residential buildings where duplicate coverage is indicated. Now, FEMA is changing this requirement to apply to all policies with a policy expiration date on or after October 1, 2014.

In addition, another bulletin deals with updates to the Community Rating System (CRS):

w-14005 Community Rating System Updates    Feb. 14, 2014

The updated resource section to learn more about FEMA/NFIP’s CRS program and the benefits it may offer your community is located at: http://www.fema.gov/national-flood-insurance-program-community-rating-system.

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