BVL Vol. 19: Flood Insurance Fundamentals


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Using the flood regs to reduce risk for your institution and your borrowers

Script/Presenter: Lucy Griffin, Paragon Compliance Group

Knowing these fundamentals can minimize your institution's risk of loss whether from floods or enforcement. Regulators are using a zero tolerance for flood violations and civil money penalties are increasing.

While floods, fires, and other natural disasters seem to attack some part of the country on a regular basis, financial institutions need to be aware that banks have a special duty to protect their portfolios from losses due to flood. The National Flood Insurance Program has been around for many years. The increase in flood disasters coupled with increased regulatory scrutiny makes it imperative that your bank knows and follows the Flood Act.

Using this video your bank can train front line and compliance staff on the essentials of the Flood Act and how following these critical rules will reduce the risk of loss to both your bank and your customer. The video discusses how to determine when flood insurance is required, what forms must be used and how to follow a process for full compliance.

Why, when, how and how much flood insurance. View this video today to ensure that your banks program is understood and implemented to its fullest potential.

(Runs approximately 20 minutes)

  • Understanding the National Flood Insurance Program
  • Following rules for implementing the regulation
  • Protecting your institution and your borrowers
  • Helping borrowers understand the requirements
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  • Model: VID-V19
  • Manufactured by: Bankers Video Library

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This product was added to our catalog on Friday 27 February, 2004.

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