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How Lenders Can Prepare for a Lapse in the NFIP

How Lenders Can Prepare for a Lapse in the NFIP

The National Flood Insurance Program (NFIP) is set to expire this Friday, May 31st, and Congress has once again failed to reauthorize the program. The Senate passed a two-week extension, retroactive to May 31, before adjourning last week for a one-week recess. Most...

What does “100-year flood” mean?

Many people hear the term “100-year flood” and are confused about what this actually means and how it affects their property as well as their flood insurance coverage. The 100-year flood is synonymous with several other terms that you may have heard, including “Base...

What does “500-year flood” mean?

As with the “100 year flood”, the meaning of the term “500 year flood” is also often times misunderstood. Many people do not understand how it affects their structure as well as their flood insurance coverage. The 500-year flood zone is used to designate base...