NFIP Policy Transfer

Policy transfers within the National Flood Insurance Program (NFIP) allow for the movement of policies between Write Your Own (WYO) carriers or from a WYO carrier to NFIP Direct. These transfers typically occur at the time of policy renewal and can involve a single policy, multiple policies, or an insurer’s entire book of business.

Policy transfers differ from policy assignments.

Submit a Transfer/Rollover in Equinox

Policy Transfers Types

Single Policy Transfers

Single policy transfers happen when a policyholder or agent chooses to move an individual policy from one insurer to another. This process resembles the issuance of a new policy but retains the policy’s historical information and coverage continuity.

1. The receiving insurer collects essential details, including:
   • Existing NFIP policy number.
   • Policyholder name and property address.
   • Underwriting information such as primary residence status, mitigation discounts, and elevation certificates (if applicable).
   • Prior insurer’s declaration page.
2. The receiving insurer validates the information for discrepancies and submits it to FEMA for a transfer quote.
3. Upon renewal, the receiving insurer generates a policy renewal notice reflecting the updated data.

Book of Business Transfer

A Book of Business Transfer (also known as a "bookroll") is when an agent, typically a broker, or a WYO company moves all of its NFIP policies to another WYO company or to NFIP Direct. This can be done in bulk or gradually, as policies reach their renewal dates.

• The transferring WYO company provides all policy and underwriting information to the new insurer.
• The new insurer requests renewal quotes from FEMA for policies nearing their renewal dates.
• The new insurer issues renewal notices using the FEMA-provided quotes.
• The process must align with a transfer plan approved by FEMA.

Rollovers

A rollover is a subset of policy transfers initiated by an agent, typically a broker, who decides to move some or all of their book of policies to a new WYO carrier.

• Rollovers are agent-driven and involve significant coordination between the agent, the current insurer, and the new insurer.
• Policies are transferred at renewal to avoid lapses in coverage.
• The receiving insurer must ensure proper documentation and compliance with NFIP rules.

Documentation Requirements

For any policy transfer, the receiving insurer must collect and validate the following:

• Existing NFIP policy number.
• Policyholder name and property address.
• Underwriting details, such as:
  • Primary residence verification if applicable.
  • Mitigation discount documentation.
  • Elevation certificate (if available).
  • Building replacement cost value for applicable property types.
• Prior insurer’s declaration page.

Additional Considerations

• Timing: Policy transfers can only occur within 90 days of a policy’s expiration date.
• Renewal Notices: The receiving insurer must issue renewal notices based on FEMA’s transfer quotes.
• Policy Continuity: Policyholders maintain coverage continuity, ensuring no lapse occurs during the transfer.

This page contains information about the NFIP. Find more NFIP Resources.