From Gulf States Flood Help
Types of Scenarios for NFIP New Business
| Scenario
|
Summary of Process
|
Details
|
| Effective Date Validation
|
Confirm that the effective date aligns with NFIP rules, considering waiting periods and payment receipt.
|
Effective Date Rules
|
| Elevation Certificates
|
Verify elevation data against policy rating details; ensure the certificate is complete and accurate.
|
Review Elevation Certificates
|
| Newly Mapped Discounts
|
Apply statutory discounts; verify eligibility and documentation requirements for newly mapped areas.
|
Newly Mapped Discounts
|
| Mitigation Discounts
|
Confirm eligibility for floodproofing or other mitigation-based discounts; ensure proper documentation.
|
Mitigation Discounts
|
| Primary Residence Verification
|
Validate the policyholder’s primary residence status; ensure criteria are met and documented.
|
Primary Residence Rules
|
| Flood Zone Verification
|
Confirm the property’s flood zone information using updated maps or third-party data.
|
Flood Zone Updates
|
| Coastal Barrier Resource System (CBRS)
|
Ensure compliance with CBRS restrictions and verify eligibility for properties in these zones.
|
CBRS Compliance
|
| Policy Transfers (Rollovers)
|
Review documents to confirm proper transfer of policies between carriers or agents.
|
Policy Transfers
|
| Additional Insured Parties
|
Verify and add additional insured parties; ensure proper documentation is attached.
|
Adding Insured Parties
|
| Incomplete Payment Reconciliation
|
Resolve discrepancies between premium billed and premium received; confirm the balance is correct.
|
Payment Reconciliation
|
