The National Flood Insurance Program: The Private Flood Insurance Rule

The course covers the mandate that lenders accept private flood insurance, a provision written into Biggert-Waters that was meant to spur growth in the private flood insurance market nationwide. It is one of the specific points the course on the Private Flood Insurance Rule walks through in depth.

It walks through the confusion lenders faced implementing the mandate, since early guidance left open questions about how exactly to apply the private insurance acceptance requirement in day-to-day practice. The course keeps this grounded in the practical realities covered under the Private Flood Insurance Rule.

The course explains how the 2019 final rule clarified compliance, giving lenders firmer, more workable guidance after years of uncertainty surrounding the Biggert-Waters private insurance mandate and its application. This is a core thread the Private Flood Insurance Rule material returns to throughout the lesson.

It is meant for lenders and compliance staff evaluating private flood insurance policies, since they are the ones applying the Biggert-Waters mandate and its 2019 clarifications on a regular basis. It reflects the kind of applied detail the course builds into its coverage of the Private Flood Insurance Rule.