In September, the Federal Emergency Management Agency (FEMA) announced Hurricane Harvey and Irma claim handling process for buildings insured under the Standard Flood Insurance Policy (SFIP), specifically recognizing that catastrophic flooding from those storms demands “fast and accurate payments to all National Flood Insurance Program (NFIP) policyholders.
The published guidance is an effort to facilitate prompt post-inspection advance payments to policyholders. The Fact Sheet outlines the steps associated with the claims process.
FEMA may authorize advance payments to policyholders before inspection by an adjuster in certain circumstances, emphasizing that advance payments are not available for additional living expenses such as temporary housing after the storm.
|Community association contracts
Policyholders have an obligation to minimize mold damages as much as possible, however coverage needs to be verified before engaging a mitigation contractor to perform water extraction. We strongly advise against signing any open-ended or undefined contracts and all contracts should be reviewed by community association counsel before the board signs off.
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