Enhanced Flood Insurance: Elevation Certificates and Grandfathering (NY)


Standard homeowners and commercial property policies normally do not cover flood damage, given the widespread and catastrophic nature of many floods. Consequently individuals and businesses had no way to insure against the financial consequences of flood losses until the National Flood Insurance Program. The NFIP is often the only source of flood insurance available.

This course focuses on the flood insurance rating process and two key factors relating to rating. Elevation certificates provide information necessary to rate properties. Grandfathering involved certain rules developed to benefit policyholders when flood maps change.

Learning Objectives

Upon completion of this course, students will be able to:

  • explain the information provided by flood insurance rate maps (FIRMs) and distinguish among the flood zones
  • identify the maximum flood insurance policies limits available
  • understand the flood insurance rating process and factors including elevation certificates
  • explain how the Biggert-Waters Act and the HFIAA affect grandfather rules and identify the types of properties affected

Designed For

P&C producers
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

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