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FEMA’s National Flood Insurance Program Enhances the Flood Claims Process and Extends
FEMA’s National Flood Insurance Program Enhances the Flood Claims Process and Extends Grace Period for Policy Renewals
09-15-2017 11:01 AM Release Date: September 15, 2017 Release Number: HQ-17-118 For Immediate Release FEMA News Desk Phone: 202-646-3272 WASHINGTON — To support the ongoing disaster recovery, the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) is enhancing the flood insurance claims process, and extending the grace period for paying policy renewal premiums for insured survivors affected by Hurricane Irma. Due to the wide-spread catastrophic damage caused by Hurricane Irma, FEMA implemented temporary changes to rush recovery money into the hands of NFIP policyholders, for repair and replacement of flood-damaged properties. FEMA also wants to ensure continuous flood insurance coverage for current NFIP policyholders affected by this storm, even if the renewed policy premium cannot be paid at this time.*FEMA is directing all NFIP private insurance partners to:
The NFIP is making it easier for policyholders to receive an advance payment for their flood claim to help them begin the process of recovery as quickly as possible. After filing a flood insurance claim, the policyholder can discuss advance payment with the insurer:
If a policyholder’s property is mortgaged, the lender will also be named on the advance payment issued for a building/structure flood insurance policy. In this case, the policyholder and lender will both be required to sign the advance payment check.* Proof of Loss Waiver To expedite processing of NFIP claims for Hurricane Irma, the NFIP is waiving the requirement for a policyholder to submit an initial Proof of Loss (POL) document. Here’s how the expedited process will work:
Grace Period Extension for Policy Renewals To ensure that policyholders affected by Hurricane Irma can focus on recovery and continue to have flood insurance coverage, FEMA is extending the current 30-day grace period of continual flood insurance coverage to 120 days, for policies in Florida, Puerto Rico, and the U.S. Virgin Islands, that were set for renewal during the immediate response to Hurricane Irma. Policies with an expiration date of August 7, 2017, through October 6, 2017, are eligible for the grace period extension.* Payment for those policies must be received within 120 days of the policy expiration. The NFIP cannot pay a claim for a flood loss that occurs after a policy expiration date unless the policyholder’s insurance company receives the payment in full for renewal on or before the last day of the grace period.* The grace period extension applies to NFIP policies covering properties in Puerto Rico, U.S. Virgin Islands, and Florida counties designated under the Presidential Disaster Declaration.*NFIP policyholders are encouraged to contact their insurance company and report a flood claim as soon as possible.* For any policy with a renewal date on or after October 7, 2017, the normal 30-day grace period will apply. # # # Topics: Disaster Response and Recovery, Disaster Survivor Assistance, Disasters Keywords: disaster recovery plan, disaster relief, FEMA, flood, Hurricane Irma, National Flood Insurance Program More... |
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