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Commercial Flood Insurance Rules & Best Practices

Mar 26 2:00 PM - Mar 26, 2020 3:30 PM
Mar 26, 2020 2:00 PM - 3:30 PM

Commercial loan collateral can include a combination of residential and nonresidential property. How does that affect flood insurance? Is adequate coverage in place? What forms are required? How is coverage calculated? Now is the time to ensure your collateral and institution are protected.

Learning Objectives

  • Identify these potential problem areas:
    • Contents coverage for commercial loans and when it is required
    • Multi-family buildings and commercial loans
    • Commercial condominiums coverage and limitations
    • Force placement of flood insurance
    • Disputing flood zone determinations
    • Proof of coverage and coverage calculations
  • Use the correct procedures to provide flood notices for each tripwire event
  • Explain policy types and limitations
  • Distinguish when the detached structure provisions for residential property may apply for a business, commercial, or agricultural loan

Flood insurance regulations have been around since 1996, yet examiners continue to cite numerous violations and impose civil money penalties. Compliance with these rules can present unique challenges with commercial lending. The collateral for commercial loans may include a combination of residential and non-residential property, along with commercial inventory. These scenarios can create potential compliance issues. Join us to learn the flood coverage rules, root causes for common violations, and how to avoid costly mistakes.



Susan Costonis, CRCM, Compliance Consulting and Training for Financial Institutions

Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training.Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998,completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.




Additional Info

Commercial Lending Series

This webinar is also available as part of a six-part series. Purchase the full series of six webinars for $1,295 and save $259.

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Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Lending & Collections
  • Compliance