By Cassie Masone – Selective Insurance Company, Vice President of Flood Operations
Selective Flood Releases Bulletin on HFIAA Changes
The tides are changing. Due to increasing catastrophic events and resultant rising expenses, Congress has passed numerous updates to help stabilize the National Flood Insurance Program over the last several years, including reforms such as BW12 and most recently the HFIAA. And with those reforms, FEMA is preparing 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 Selective’s Overview of April 2015 NFIP Changes presentation. In addition, to help explain 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, we need to keep customers and prospects informed of their risk for flood. To help you, our Online Marketing Portal has a variety of complimentary tools and resources available. In addition, our 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 our 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 our program-and how to start a simple and satisfying book roll-on the Big “I” Flood program website.
Andrew McElhannon is the Member Services Coordinator for the Independent Insurance Agents of Georgia www.iiag.org, and can be contacted at: firstname.lastname@example.org or b y phone at 770-458-0093, x.110, or 800-878-6487.