A set of questions, with answers, regarding the acceptance of flood insurance policies issued by private insurers is out for a 60-day comment period ending about May 17.
The private flood insurance Q&A was issued March 11 by the Farm Credit Administration (FCA) Federal Deposit Insurance Corp. (FDIC), Federal Reserve Board, National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC). The agencies, in their notice, said the final Q&As will combine this set of new ones with another proposed last year dealing mostly with federal flood insurance rules.
The Q&As address issues related to the private flood insurance requirements under the 2012 Biggert-Watters Flood Insurance Reform Act.
The agencies’ notice and request for comment is slated for publication Thursday in the Federal Register.
RR: Financial regulators propose private flood insurance Q&A (March 11, 2021)