On 3/11/21, several Federal agencies jointly issued a request for comment on 24 proposed Interagency Questions and Answers Regarding Private Flood Insurance. In their joint release, the agency explain that the proposal is intended to help lenders comply with the 2019 rule which implemented the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012.

The proposal incorporates new questions and answers in a number of areas including:

Mandatory Acceptance,
Discretionary Acceptance, and
Private Flood Insurance General Compliance.

These Questions and Answers would supplement the 118 Interagency Questions and Answers Regarding Flood Insurance that the agencies proposed on July 6, 2020, which have not yet been finalized.

The 24 proposed Q&As on private flood insurance can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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