Originally published by Shane Smith.
As a result of the devastation from the severe storms affecting Louisiana, Mississippi, Arkansas and Texas, FEMA is making an effort to ensure accurate and prompt settlement of NFIP policyholders’ claims.
On August 17, 2016, David I. Maurstad, Assistant Administrator for Federal Insurance, issued Bulletin W-16053 titled “Advance Payments Under Standard Flood Insurance Policies” authorizing two advance payment opportunities for use by WYO carriers or the NFIP Direct Servicing Agent:
1. Pre-Inspection
When the insurer who issues the policy (a WYO Company or the NFIP Direct Servicing Agent for FEMA) receives a notice of loss, it will confirm coverage and validate that the insured building and/or personal property has flooded. After the insurer determines that a general and temporary condition of flooding as defined in the SFIP existed and damaged the insured property, the insurer should offer an advance payment to the policyholder for building and/or personal…
.
Curated by Texas Bar Today. Follow us on Twitter @texasbartoday.
from Texas Bar Today http://ift.tt/2bpEMe3
via Abogado Aly Website
No comments:
Post a Comment