FEMA issues new flood insurance manual

The Federal Emergency Management Agency (FEMA) has updated the manual that insurance companies use to write flood insurance policies. The comprehensive manual provides answers to just about any question a REALTOR may have regarding flood insurance, ranging from how condos are treated to rate tables as revised by the Homeowner Flood Insurance Affordability Act enacted earlier this year.

Prior to releasing the new manual, FEMA issued a series of a NFIP iService Bulletins, which are supplemental to the October 1 manual. Presented in one place, these are the key insurance bulletins that implement the rate relief and refund procedures under the new law. Click here to view the updated manual.