As you are probably already aware, the Flood Insurance Reform Act of 2012 created unprecedented, sweeping changes to the Flood Insurance requirements. It also required updates to the Flood Insurance Manual used by insurance agents.
One change in particular is worth a look. Be sure to check out the NFIP’s video on the new rule regarding the 30-day waiting period for lender-required policies on existing loans. This link also addresses the rules changes regarding Pre-Firm Increases, Assignment, Additions and & Extensions and Map Revisions Refunds.