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.

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