The tides are changing. Due to increasing catastrophic events and resultant rising expenses, Congress has passed numerous updates to help stabilize the NFIP over the last several years, including reforms such as Biggert-Waters and HFIAA. FEMA is currently gearing up to roll out the second wave of HFIAA changes, taking place in April.
To help you clearly understand what to expect come April and how it may impact your customers, please review an overview of April 2015 NFIP changes from Selective Insurance Company of America. Need help explaining the effects of these changes with your customers? FEMA's HFIAA April Fact Sheet is a great resource.
It's important to keep in mind that while some of these changes will undoubtedly affect the overall cost of flood insurance, agents and carriers must keep customers and prospects informed of their risk for flood. To help in this regard, Selective’s Online Marketing Portal has a variety of complimentary tools and resources available, and the Flood Territory Management team is ready to assist you in developing a strategy to communicate the need for flood insurance to your clients.
For additional assistance or if you would like more information, please contact Selective today.
Selective is the only insurer that directly supports national and state association flood advocacy efforts on behalf of Big “I” members in Congress and with the NFIP. When you place flood business with the Big "I" Flood program, you strengthen the voice of independent agents.
Learn more about the program and how to start a simple and satisfying book roll on the Big "I" Flood website.