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Flood Insurance Coverage Issues
(Presented By: Jack Holzknecht)
In recent years, examiners from all agencies have been "targeting" the flood insurance area during compliance exams. In many cases penalties have been imposed. Frequently the violations subject to penalties involve an inadequate amount of flood insurance or other coverage issues. This two-hour webinar covers all of the rules regarding flood insurance coverage.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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To gain a better understanding of the ramifications of an incomplete understanding of this material, visit the following BOL site. If you are on the list, then you understand the importance. If you are not on the list, this program is designed to keep you off the list.
WHAT?
Flood policies come in different forms - Standard Dwelling Policy, General Property Policy and the Residential Condominium Building Association Policy. Flood policies come in different amounts. Not every type of water damage is covered. Some polices provide full replacement cost coverage, while others don't. Confusions abounds for construction loans - when does the policy have to be in place? When does coverage begin? What about coverage on the contents of a building?
This program deals with all of the major flood insurance coverage issues. It takes the "mystery" out of the process. Clear answers are provided to common questions about flood insurance issues.
WHY?
The program provides the information needed by the lending, compliance and audit staff to assure ongoing compliance with the law. Participants receive a detailed manual that serves as a handbook long after the program is completed.
PROGRAM CONTENT
Upon completion of the program, participants understand:
How much coverage is need for different types of properties, including:
a single condo unit in a high-rise condo;
a piece of commercial property with multiple and varied buildings located on the property;
a construction loan secured by a lot and the home that is to be constructed;
a loan secured by a large valuable piece of agricultural property that has a small barn located on it;
The different types of flood policies and what type is needed for a particular loan;
What is and is not covered by a flood policy; and
What is required by law, and more importantly, what is needed to protect the bank's interest in a loan.
WHO?
The program is designed for loan officers, compliance officers, loan secretaries and clerks and auditors. The program is presented at the basic level.
PRESENTER
Jack Holzknecht is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-four years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by the Georgia, Iowa, Kentucky, Pennsylvania, Nebraska, New York and Texas bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru" at http://www.bankersonline.com/ and frequently answers compliance questions sent to "Bankers' Threads."
More information...
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888-229-8872