Flood Insurance – Fact or Fiction? What do you need to know?

Flood insurance training is no longer “optional”. The Biggert-Waters Flood Insurance Reform Act of 2012 made several changes.

In addition to extending authority for the National Flood Insurance Program (NFIP) through 2017, this legislation allowed regulators to increase fines to $2,000 per incident and removed the annual limit. Attend this session to help train your staff to understand the rules of coverage and the root causes for common violations, including proper completion of the Standard Flood Hazard Determination Form, controls to require adequate flood insurance coverage, and proving that the Notice of Special Flood Hazards was delivered for each type of “triggering” event.


  • Expectations for flood insurance compliance, including recent regulatory guidance and suggestions for oversight by the Board and Senior management.
  • What “pattern or practice” violations will trigger mandatory assessment of civil money penalties by your financial institution’s primary regulator?
  • Highlights of Biggert-Waters Flood Insurance Reform Act of 2012. What became effective when the law was signed on July 6, 2012 and what provisions require additional regulations or actions to become effective?
  • Problem areas – what are they and how can you avoid making costly mistakes? Portions of the interagency question and answers will be covered. Topics to be covered include examples for:
    • Contents coverage for commercial loans
    • Residential condominium loans
    • Force placement of flood insurance
    • Map changes
    • Disputing flood zone determinations
    • Flood zone discrepancies
    • Notice to borrower
    • Proof of coverage
    • Construction Loans
    • Modifications
    • Detached garages
    • Flood Insurance Resources – helpful references and tools for compliance


This informative session is designed for auditors, loan officers, loan assistants, and loan administration staff. This seminar is designed for both those new to flood insurance compliance or more experienced personnel looking for a review of existing requirements.


Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. Most of her 35-year career was spent as a banker in several areas including lending, marketing, compliance, and senior management. Susan has written numerous training manuals and successfully managed compliance programs and exams for institutions supervised by the OCC, FDIC, and Federal Reserve. 

Credit Information

Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hrs. CLBB/CRCM


Either Live or 6-Month On-Demand Webinar: $255

Both Live and 6-Month On-Demand Webinar: $355


Online: Click here.

Phone: Call Total Training Solutions at (800) 831-0678

Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.