Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Flood insurance

Flooding is the most common natural disaster that occurs in the United States. In historically flood-prone regions, this can lead to increased risks for both buyer and lender. To help protect property owners against losses, the National Flood Insurance Program was founded in 1968 through the National Flood Insurance Act as an alternative insurance option for communities located in federally designated flood plains. For lenders, the Flood Disaster Protection Act of 1973, later reinforced by the 1994 Reform Act, required federally-regulated and federally-insured lenders to monitor and mandate flood coverage on properties throughout the entire term of the loan.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.