PDF - Assurant Flood Solutions

FLOOD FACTS
SPRING 2015 | A quarterly newsletter for agents of American Bankers Insurance Company of Florida. www.abicflood.com
Claims Contact for AccessFlood
Email: [email protected]
Phone 1-800-423-4403
Fax
1-866-892-3066
Hours of operation: “24 Hours” for
claim reporting
Claim status, please call: 1-800-423-4403
Mon-Fri 8:00am-6:00pm EST
Call the Flood Service Center at
1-800-423-4403 if you need help
submitting a claim via AccessFlood
Claims Contact for FloodPro
Email Address: [email protected]
Phone:1-800-654-4895
Fax:1-866-528-3252
Hours of operation: “24 Hours” for claim
reporting
Claim status - call: 1-800-654-4895
Mon-Fri 6:00am-4:00pm MST
Call the Flood Service Center at
1-800-368-7851 if you need help
submitting a claim via FloodPro
IN THIS ISSUE
2
4
5
6
7
April 1, 2015, Program Changes
June 1, 2014, Program Change
Reminders
October 1, 2014, Program
Change Reminders
Access Flood System
Enhancement
AccessFlood Webinar Training
Claim Handling Enhancement
Holiday Schedule
8
NFIP Flood Training
9
Flood Service Center Contact
Information
Links to Additional Flood
Information
10
Assurant in the Media
11
Marketing Executive’s Corner
Attention Florida Agents!!!
We are pleased to announce
National Flood Services (NFS)
and SEMCAT partnered to
enhance the flood insurance
quoting process and provide you
with better service.
This means Florida SEMCAT
users will be provided with an
instantaneous flood insurance
indication for quoted properties,
along with a personalized flood
risk proposal, and waiver.
To read more click here:
http://www.prweb.
com/releases/2015/02/
prweb12518237.htm
April 1, 2015, NFIP Program Changes
The changes taking place in April include an
zone in which the building is located or the
implementation of an annual surcharge on all new
post-FIRM).
increase in the Reserve Fund Assessment, the
and renewed policies, an additional deductible
option, an increase in the Federal Policy Fee, and
rate increases for most policies. In addition they
are implementing a new procedure for properties
newly mapped into the Special Flood Hazard Area
(SFHA) and existing Preferred Risk Policy Eligibility
Extension (PRP EE),
construction date of the building (e.g., pre- or
• The surcharge also applies to a renter’s contentsonly policy based on the policyholder’s
occupancy of the building or unit.
• To be eligible for the $25 surcharge
documentation of Primary Residence must be
submitted with application and for renewal.
• Please note that when quoting from the PRP
Reserve Fund Assessment Increasing
• The Reserve Fund assessment initially applied
to all policies other than PRPs in 2013. The
rating charts you must add either the $250 or
$25 surcharge to the total on the chart.
assessment on those policies will increase in 2015.
• Starting in 2015, PRPs will begin contributing to
the Reserve Fund.
Policy
Annual
Occupancy Type
Primary Residential: single-family and
Surcharge
$25
individual condominium units
2014 Fee
(as a percent
of premium)
2015 Fee
(as a percent
of premium)
0%
10%
Preferred Risk Policies
(PRPs)
Property Newly Mapped
0%
$250
individual condominium units
Multifamily Residential: condominium units
$250
Non-Residential
$250
15%
into the SFHA (Previous
When a Map Change Occurs
Preferred Risk Policies
Eligibility Extension
This is a new section of the manual regarding
([PRP EE])
All Other Policies
Non-Primary Residential: single-family and
5%
15%
policies that are newly mapped from a Non Special
Flood Hazard Area (B, C or X) to a Special Flood
Hazard Area (A or V). During the first twelve
HFIAA Surcharge Begins
• HFIAA slowed the elimination of subsidies
provided for in Biggert-Waters and amended
most of the provisions mandating that certain
policies transition immediately to full-risk rates.
• To compensate for the decrease in revenue, the
new law calls for the addition of a surcharge
on all policies that will be collected until, with
limited exceptions, all subsidies are eliminated.
• The surcharge is a flat fee applied to all policies
based on the occupancy type of the insured
building and is not associated with the flood
2 | Flood Facts
months following the map revision date these
structures will be eligible to obtain a policy under
the Structures Newly Mapped program. Starting
on 4/1/15 they will not be written in the PRP
Eligibility Extension program. Prior
• Current PRP EE policies and policies for insured
buildings that are newly mapped into high-
risk areas from moderate- to low-risk areas will
be eligible to receive PRP rates for 1 year after
the maps become effective. The Federal Policy
Fee for these and existing PRP EE policies will
increase to $45 to ensure the solvency and
sustainability of the program.
• For these policies, the rates at renewal will
increase no more than 18 percent each year.
• Grandfathering remains a cost-saving option
for policyholders when new maps show their
buildings in a higher-risk area (e.g., Zone A to
Zone V; increase in Base Flood Elevation).
Other Changes Coming in April
• As required by HFIAA, the maximum
deductible for a flood insurance policy will
increase to $10,000 for single family and
two- to four-family dwellings. If used, the
deductible must apply to both building and
contents. For single-family homes, choosing
buildings that have been substantially damaged
or improved. However, repairs made to these
structures typically must meet current building
codes and, therefore, will usually receive a better
rate using post-FIRM rate tables.
• In most cases, average rate increases for each
rating class are capped at 15 percent; the annual
surcharge and Federal Policy Fee are not
included in the rate calc
For full explanations and guidance, see WYO
Bulletin (W-14053) and the Flood Insurance Manual.
Read the latest WYO Bulletins for complete ratechange information at NFIPiService.com
the maximum deductible will result in up to
a 40 percent discount from the base premium.
It is important to remember that using the
maximum deductible may not be appropriate
in every financial circumstance and may not
be allowed by lenders to meet mandatory
purchase requirements.
• The Federal Policy Fee will increase by $1
for most policies other than the PRP, which
remains $22. The exception is policies rated
using the map change table, which will increase
to $45 to ensure the solvency and sustainability
of the program.
• A new rate table showing annual rate increases
of 25 percent will be created for pre-FIRM
Homeowner Flood Insurance Affordability Act (HFIAA) of 2014
Information on the implementation of 2014 (HR 3370) FEMA Bulletin W-14055 – Released Oct. 16, 2014.
• To view the complete Bulletin log onto the website at: http://www.nfipiservice.com/Stakeholder/pdf/
bulletin/w-14055.pdf
• To view a Three-minute overview video and FAQs click here: https://www2.accessflood.com/forms/
Alert2Dec19_Template.pdf
• For general review of all flood insurance reforms including resources for property owners and agent click
here: https://www.fema.gov/national-flood-insurance-program/floodinsurance-reform
Spring 2015 | 3
June 1, 2014 NFIP Program Change Reminders
Verification of Primary Residence required on all Pre-Firm Subsidized New
business and renewals
New Minimum Deductibles
As of June 1, 2014 the minimum deductibles available under the FEMA Flood program have changed.
PROGRAM TYPE
EMERGENCY
REGULAR
RATING
MINIMUM DEDUCTIBLES
FOR COVERAGE OF
$100,000 OR LESS*
MINIMUM DEDICTIBLE
FOR COVERAGE OVER
$100,000
ALL
$1,500
$2,000
All Pre-FIRM Subsidized zones: A,
AE, A1-A30, AH, AO, V, VE, and
V1-V30, AR/AR Dual zones without
Elevation Data
$1,500
$2,000
All Full-Risk zones: A, AE, A1-A30,
AH, AO, V, VE, and V1-V30, AR/AR
Dual zones with Elevation Data and
B, C , X, A99 and D
$1,000
$1,250
$1,000
$1,250
Tentative and Provisional
* Use this column if building is $100,000 or less, regardless of the contents coverage amount. This
includes policies issued with contents only.
4 | Flood Facts
October 1, 2014 NFIP Program Change Reminders
In addition to the changes that went into effect
must obtain documentation that the grantor is a
effective October 1st. Significant changes include
the right to live in the home as a benefit.”
June 1st FEMA also released a manual update
the following:
beneficiary of the Trust named as the insured with
Further guidance on named insureds for tenant’s
New policy procedures concerning accepting a
coverage (see GR 14)
signed statement from the insured in lieu of the
prescribed documentation of primary residence,
when such documentation is not available at
the time of the policy application for newly
purchased properties (see GR6)
“Acceptable documentation for a primary
residence status requires one of the following:
Homestead Tax Credit Form for Primary Residence,
F. Tenant’s Coverage 1. Building Coverage:
“The building owner must be named on the policy.
If building coverage is purchased by a tenant due
to a lease agreement, the tenant may also be named
on the policy. Coverage for contents owned by the
tenant must be written on a separate policy in the
name of the tenant only. “
driver’s license, automobile registration, proof
NOTE: “Duplicate coverage is not permitted
documents showing where the children attend
building coverage.”
of insurance for a vehicle, voter’s registration, or
School.
If the documentation of primary residence is
not available when the policy is applied for on a
under the NFIP, So only 1 policy can be issued for
Updated information on the photograph
requirement for transfer of elevation-rated
newly purchased dwelling, the insurer must obtain
business policies (see GR 16)
with the text ..(text in manual) “
Guidance on eligibility for a beneficiary of a
on or after April 1, 2015, require photographs. The
a signed and dated statement from the application
trust for primary residence rating (see GR 6 – 7)
“If a Trust is named on the policy, and a
beneficiary of the Trust is using the building as a
F. Transfer of Business: “… all elevated
rated policies being transferred that are effective
photographs on file with the previous insurer may
be used if there have been no structural changes
that effect the building’s rating.”
primary residence, the beneficiary of the Trust must
* For additional information or to review the
residence outlined above. In addition, the insurer
choose the October 1, 2014 version. You will be able
provide the standard documentation of primary
must obtain documentation that the person using
the home as a primary residence is a beneficiary of
the Trust named as the insured.
The grantor of a Trust may also be eligible
change record, go to the online FEMA manual and
to view the cover letter as well as the manual itself.
Each section that has changed will have a heavy
black bar next to it making it easier to locate.
for the primary residence rating if the Trust
To keep current as FEMA implements these and
of the Trust with the right to live in the home. The
Program, visit fema.gov/flood-insurance-reform.
documents support that the grantor is a beneficiary
grantor must submit both the Trust documents
other changes to the National Flood Insurance
and the standard documentation of primary
residence outlined above. Accordingly, the insurer
Spring 2015 | 5
News You Can Use
Access Flood System
Enhancement
We are excited about our latest system
enhancement in Access Flood – the Elevation
Certificate Application Panel!
This new Elevation Certificate panel looks
exactly like the actual Elevation Certificate.
Just fill-in the information directly from the
Elevation Certificate and the application will
choose the correct rating elevation based on
your responses.
The online application will review the answers
provided and may display some guidance
massages if any of the information requires
review.
• A green message is an informational
message and may only require your review.
• A blue message will show when a rate is
provided so you can continue with your
quote, however it is recommended that you
submit your Elev computer screen ation
Certificate for us to review.
• An orange message will show when there is
a major conflict in the Elevation Certificate
information and will require a correction
before a rate can be provided.
The new Elevation Certificate panel will
also automatically subtract the appropriate
elevation in V-zones.
6 | Flood Facts
The new Elevation Certificate panel is
available for Elevation Certificates with
signatures on or after October 1, 2009.
ACCESSFLOOD
News You CanWEB
Use TRAINING
The Flood Service Center is committed to providing the best training programs to our Agents. Please take
advantage of this opportunity to sign up for one of the following AccessFlood Training Webinars. A number of
changes have been made recently to the AccessFlood Online System. We realize that your time is valuable
so each Webinar will last no more than 45 minutes but should save you time in the long run. For assistance
or additional information please contact 800-423-4403 x350 or x610. Let us help you write more flood
business!
AccessFlood Webinar Training Schedule
PST
MST
CST
EST
April 15
8:00
9:00
10:00
11:00
May 20
8:00
9:00
10:00
11:00
June 17
8:00
9:00
10:00
11:00
July 15
8:00
9:00
10:00
11:00
Log in 10 minutes early and/or test out the meeting link in advance to make sure it is compatible with your
browser. If you are unable to get in under Internet Explorer, you may want to try Google Chrome or Firefox.
To connect to an on-line AccessFlood Training Webinar click on the following link:
https://connect8.uc.att.com/assurant/meet/?ExEventID=84324748
Connect to the audio portion of the Webinar by calling:
• Toll-Free Number (in USA): 888-535-6454.
• Enter the meeting access code 5484505# when prompted.
2015 Holiday Schedule - Flood Service Center Closed
Memorial Day..................................................................................... Monday, May 25
Independence Day.................................................................................. Friday, July 3
Labor Day......................................................................................... Monday, Sept. 7
Thanksgiving............................................................ Thursday, Nov. 26 and Friday, Nov. 27
Christmas.......................................................................................... Friday, Dec. 25
Claim Handling Enhancement
As many of you already know Assurant recently
sold the American Reliable branch of the
company. With this change the handling of claims
has moved. Claims are being handled by Assurant
Specialty Property in our Miami, Florida office.
• Expanding of our claim team with access to
over 500 Claim Professionals as needed.
There are many benefits to this repositioning.
• Proven oversight of Independent Adjusters to
manage cycle-time and service delivery
• Full audit program for on-going
continuous improvement
• Dedicated CAT CZAR to proactively prepare
for, manage, and communicate with internal
and external stakeholders
• Tested CAT Response Plan
• Contingency Plans to deploy internal resources
to immediately scale operations in support of
volume spikes
• Full time Customer Liaison for immediate
contact, and issue resolution for internal and
external stakeholders
We continue in our commitment to our clients to
help their customers protect what is most
important to them.
Spring 2015 | 7
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NFIP’S FLOOD TRAINING
ONLINE WEBINARS AND WORKSHOPS
The NFIP now offers Agent training via Workshops and
Webinars. Find training that meets your needs by viewing
the Agents schedules on the website. This web based
training does not provide CE Credits, unless specifically
stated on their website below. The Webinar does provide
a Certificate of Completion to all attendees for the
FloodSmart cooperative programs and any WYO requesting
proof of training.
•
Workshops (classroom style): The NFIP’s workshop,
“Basic Agent Flood Seminar”, provides 3 CE Credits
to all licensed agents/producers except for those
agents/producers licensed in the following three States
(Montana, Michigan and Massachusetts) as well as
agents/producers in Puerto Rico and the U.S. Virgin
Islands.
For more information, on the NIFP Webinars or Workshops,
please go to: http://www.nfipiservice.com/training/
schedule_agents.html
***American Bankers Insurance Company of Florida offers
two different Flood Insurance Training Classes that are
“NFIP Compliant” for our agents and producers:
•
Level I - Fundamentals of Flood Insurance. This class
8 | Flood Facts
covers all basic rules and requirements of completing a
Standard Flood Insurance Application.
•
Level II - Advanced Flood Insurance. This class would
be for the more experienced agent. The class reviews
the Fundamentals of Flood Insurance with emphasis
on elevated buildings in Special Flood Hazard Areas,
Condominiums, and coverage Limitations.
For more information on the Level I and Level II classes,
including CE Credits available, please visit our website at
www.abicflood.com and select Education and then select
your State from the drop down box.
If you have questions regarding NFIP Training, please write
to [email protected] or view the NFIP
Training schedule. Sign Up for NFIP Lender or Agent Training
Bulletins.
ABIC Flood Service Center Contact Information.................... AccessFlood
General mail address for New Business
Applications, Rollovers, Endorsements,
Cancellations and Other Correspondence
American Bankers Insurance Company of Florida
Flood Service Center
PO Box 4337
Scottsdale AZ 85261-4337
Hours of Operation
Monday–Friday: 6:00am - 4:00pm MST
Phone: 1-800-423-4403 | Fax: 1-714-712-3842
Overnight Mail Address
American Bankers Insurance Company of Florida
Flood Service Center
8655 E Via De Ventura
Scottsdale AZ 85258
[email protected]
Email
[email protected]
[email protected]
[email protected]
[email protected]
Lockbox Address for Renewal Payments Only
American Bankers Insurance Company of Florida
PO Box 29861
Phoenix AZ 85038-9861
ABIC Flood Service Center Contact Information......................... FloodPro
Customer Service Representatives
• Email: [email protected]
• Phone: 800.368.7851 Fax: 866.528.3277
Automated Status Line
• Phone: 888.245.7274
Status Representative
• Phone: 866.667.9739
Agency Services
• Email: [email protected]
• Phone: 800.368.785
Fax: 866.528.3208
Rollover Services
• Email: [email protected]
• Phone: 866.796.9340 Fax: 866.528.3207
Submit-For-Rate
• Email: [email protected]
• Phone: 800.368.7851 Fax: 866.528.3254
Marketing and Training
• Email: [email protected]
• Phone: 800.423.4403 Fax: 714.712.3845
Claims
• Email: [email protected]
• Phone: 800.654.4895
Fax:
866.528.3252
Website Technical Assistance • Website: www.ABIC.FloodPro.net
• Email: [email protected]
• Phone: 888.857.1000
Links to Additional Flood Information
http://www.nfipiservice.com/nfip_docs.html
The NFIP Flood Insurance Manual is revised twice
a year - once in May and once in October. The fully
revised Manual (including the above changes) is
available at this site. To access the chapters, just
click on the chapter name.
www.AbicFlood.com
The official site of the American Bankers Insurance
Company of Florida.
www.FloodSmart.gov
The official site of the National Flood Insurance
Program (NFIP).
www.nfipiservice.com/watermark/index.html
WATERMARK is published 3 times a year by the
National Flood Insurance Program (NFIP). The
current issue and selected back issues of Watermark
are available at this site.
http://www.fema.gov/about/programs/nfip/index.
shtm
Provides additional information about the NFIP Flood
Insurance Manual and yearly revisions.
http://www.fema.gov/about/programs/nfip/index.
shtm or http://www.fema.gov.
Additional information on the NFIP and FEMA.
Spring | 2015 | 9
Assurant in the Media
Assurant Ranks 304 on Fortune 500 List
We are pleased to announce that Assurant again
ranks among the largest U.S. companies the latest
Fortune 500 list.
Assurant ranks as the 304th largest company in
the U.S. based on annual revenue, according to
the Fortune 500 list. This is Assurant’s tenth
appearance on the annual Fortune 500 list.
Assurant Recognized by EPA as Member of
Energy Star Certification Nation
Assurant’s energy conservation efforts shine
bright – with high efficiency lighting of course!
The premier provider of specialty insurance and insurancerelated products and services was recognized by the U.S.
Environmental Protection Agency’s (EPA) ENERGY STAR
as a member of the 2014 ENERGY STAR Certification
Nation for certifying more than five its buildings last
year. Six of the Assurant’s commercial buildings in four
locations earned the ENERGY STAR certifications for
using an average of 35 percent less energy than typical
buildings and also release 35 percent less carbon dioxide
into the atmosphere.
“Embedded in our culture and reflected in our values is
a passion to serve out communities that is at the core of
our sustainability practices. Assurant invests time and
Assurant Named One of America’s 50 Most
Trustworthy Financial Companies
New York, April 17, 2014 – Assurant Inc. (NYSE:
AIZ), a premier provider of specialty insurance and
insurance related products and services, recently
was name to the 2014 list of “America’s 50 Most
Trustworthy Financial Companies” published by
Forbes magazine.
“Assurant is dedicated to protecting what matters
most to our clients and consumers while building
shareholder value in accordance with strong
corporate governance standards.” said Robert
10 | Flood Facts
Assurant Named Company of the Week
by Financial Services Roundtable
Assurant employees’ strong commitment to service
shines bright year round. In recognition of our many
community involvement efforts, Assurant was named
Company of the Week for April 14 by the Financial
Services Roundtable (FSR), a leading advocacy
organization for America’s financial services industry.
Assurant is a member company of FSR.
The Financial Services Roundtable highlights
the efforts of member companies to improve the
communities they serve. We are very proud of the
dedication and generosity of our employees that
earned Assurant this recognition.
resources to reduce out environmental impact,” said Alan
B. Colberg, president and CEO of Assurant. “As part of
these efforts, we have worked diligently to increase energy
efficiency across Assurant, and are proud to be recognized
by the EPA for our achievements.”
Assurant improved its energy performance across the
enterprise by making cost-effective improvements to its
building operations. Since 2009, the company has reduced
electrical energy usage seven percent annually and saved
enough energy to power more than 2,000 average size
homes for one year. In 2013, Assurant invested resources
in a solar installation at its Springfield location. The
rooftop installation and solar carports now generate 46
percent of the electricity for the office campus.
“While these achievements are important, we are
committed to doing even more to improve our
sustainability efforts and increase energy efficiency across
the enterprise,” said Colberg.
B. Pollock, president and CEO of Assurant, Inc.
“We’re proud to be recognized for our high-level of
commitment and accountability to our customers and
shareholders, and be included on this important list.”
Assurant is a premium provider of specialized
insurance products and related services in North
America and select worldwide markets. Assurant, a
Fortune 500 company and a member of the S&P 500,
is traded on the New York Stock Exchange under the
symbol AIZ. Assurant has approximately $30 billion
in assets and $9 billion in annual revenue. For more
information on Assurant, please visit www.assurant.
com or follow us on Twitter (@AssurantNews).
Marketing Executive’s Corner
We thought it would be fun to get to know our Marketing Executives. Over the next few editions
we will be including bios. This month we are highlighting Ralph Martinez and Larry Mitchell.
and working on French. He has
owned
two agencies and has extensive age
ncy
management experience.
Ralph Mar
Executive
Marketing
tinez
Consultan
t
Ralph is a South Florida native and
presently
lives in the Miami area. He is an
avid boatman,
diver and fishermen. Ralph has
been licensed
and in the insurance industry for
over 18
years. He is bilingual in English
and Spanish
When not working he enjoys bein
g close to
the ocean, walking, running and
swimming.
He enjoys working on the boat and
spending
time with family and friends.
Ralph’s advice to agents: Don’t
put your
E&O on the line! Remind your clie
nts that we
all live in a flood zone.
s
helped major organization
agencies from scratch and
g
atin
t-hand the devast
reorganized. He knows firs
family. When his first
a
on
e
effects a flood can hav
was an experience that had
home flooded in in 1995 it
He had flood insurance
a profound impact on Larry.
home and life, which is
that helped him rebuild his
the need for everyone to
why he is passionate about
icy.
have a flood insurance pol
ell
agents market and sell
When Larry is not helping
Larry Mitgch
nt
lta
su
on
hike, dance and spend
ketin C
flood insurance he likes to
Executive Mar
Maria grill. He loves to
time cooking on his Santa
g because he has the
, Ohio but raised in
travel which is a good thin
Larry was born in Ashtabula
zation!
. He currently lives in
largest territory in the organi
sunny Southern California
Luis Obispo with
l each and every client
the Central Coast town of San
Larry’s advice to agents: Tel
17.
h,
nna
Ha
and
19
icy may not cover the peril
his children Vivian, 21, Gavin
that their Homeowners pol
l help sell more flood
nce business since
of flood. This simple act wil
Larry has been in the insura
nts, and help keep you out
surplus lines and
insurance, protect your clie
1993 and has sold life, health,
ims.
nce, and has held
of Errors and Emissions cla
property & casualty insura
rted
licenses. He’s sta
his Series 6 & 63 securities
Spring 2015 | 11