Private flood insurance definition

Private flood insurance means an insurance policy that:
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Private flood insurance means personal lines or commercial flood insurance policies or endorsements providing coverage for the peril of flood issued directly by insurers.
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Private flood insurance means a personal lines policy
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Examples of Private flood insurance in a sentence

  • Private flood insurance may offer some advantages over the NFIP, including more flexible flood polices, integrated coverage with homeowners insurance, or lower-cost coverage for some consumers.

  • Section 339.3 is amended by adding paragraph (c) to read as follows:§ 339.3 Requirement to purchase flood insurance where available.* * * * *(c) Private flood insurance.

  • Private flood insurance may also be available on a limited basis.

  • Private flood insurance that does not meet these minimum standards is likely to lead to abuse of homeowners.

  • Private flood insurance and reasonable protections do, and should continue to, work hand-in-hand.

  • Private flood insurance coverage is dictated17 by the nature of the improved structure and may be adjusted with the18 concurrence of the lender/servicer, provided that insurance must meet the19 HUD minimum requirement stated above.20 3) FEMA determines the floodplains and provides maps of SFHAs, making it21 possible for surveyors to use a consistent basis for evaluating the property’s22 elevation.

  • Private flood insurance policies must be issued on a replacement cost basis and must provide coverage and terms at least as broad as or better than the coverage and terms provided under a standard flood insurance policy issued under the NFIP.

  • Private flood insurance Lines of Insurance Required for Licensed Insurance Companies4.

  • Private flood insurance policy deductibles are rarely comparable to SFIP deductibles, in part because private flood insurance policies may have higher coverage amounts than NFIP policy maximums.

  • Private flood insurance is growing more robust, bringing new and relevant options that were never available before, such as coverage for additional living expenses, enhanced basement coverage and increased limits for various risk classes.


More Definitions of Private flood insurance

Private flood insurance means personal lines or commercial flood insurance policies
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Private flood insurance means aninsurance policy that:
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Private flood insurance means an insurance policy that: (1) Is issued by an insurance company that . . . (B) In the case of a policy of flood insurance, difference in conditions, multiple peril, all risk, or other blanket coverage insuring residential or nonresidential commercial policy, is recognized, or not disapproved, as a surplus lines insurer by the insurance regulator of the State where the property to be insured is located. ” 2. Scope of Insurance Coverage. The standard flood insurance policy (“SFIP”) has not been developed within the commercial insurance marketplace, so the terms and coverage inherent to the policy are not consistent with the terms and coverage included in ISO forms used in the commercial insurance marketplace. The regulation should recognize the validity of terms otherwise deemed acceptable in commercial property policies. Subsection (i)(2) should be changed to read as follows:
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Related to Private flood insurance

  • Flood Insurance Regulations means (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 (amending 42 USC 4001, et seq.), as the same may be amended or recodified from time to time, and (iv) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder.

  • Flood Insurance Laws means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto.

  • Flood Insurance Rate Map means the most recent flood hazard map published by the Federal Emergency Management Agency under the National Flood Insurance Act of 1968 (42 U.S.C. Section 4001 et seq.).

  • Flood fringe means the portion of the floodplain outside the floodway that is usually covered with water from the 100-year flood or storm event. This includes, but is not limited to, the flood or floodway fringe designated by the Federal Emergency Management Agency.

  • Special Flood Hazard Area means an area that FEMA’s current flood maps indicate has at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year.

  • Tidal Flood Hazard Area means a flood hazard area in which the flood elevation resulting from the two-, 10-, or 100-year storm, as applicable, is governed by tidal flooding from the Atlantic Ocean. Flooding in a tidal flood hazard area may be contributed to, or influenced by, stormwater runoff from inland areas, but the depth of flooding generated by the tidal rise and fall of the Atlantic Ocean is greater than flooding from any fluvial sources. In some situations, depending upon the extent of the storm surge from a particular storm event, a flood hazard area may be tidal in the 100-year storm, but fluvial in more frequent storm events.

  • Flood plain means land that:

  • Health Insurance Portability and Accountability Act means the Health Insurance Portability and Accountability Act of 1996, Pub. L. No. 104-191, 110 Stat. 1936, as amended.