OK – what does it mean when the article states “if coverage is suspended, most federal assistance won’t be unavailable.” That means it will be available, right?
State insurance regulators have no authority over the NFIP. As such, Ms. Stewart has no say in the matter whatsoever. FEMA decides whether a community is progressing satisfactorily along a planned path toward rectifying deficiencies discovered under the requirements of the NFIP.
If a community is suspended or/ terminated from participation, they will lose eligibility, period, for some time. A community under suspension is ineligible for continued coverage under the NFIP. No renewals and no new policies issued.
If a community is simply placed on probation, a surcharge of $50.00 is added to all renewal and new business until the community is either suspended or has the probation removed.
OK – what does it mean when the article states “if coverage is suspended, most federal assistance won’t be unavailable.” That means it will be available, right?
Exactly my question. Wonder if anyone will answer.
you would have to ask FEMA
Since they lose their Regular program status, wouldn’t it resort to the Emergency program?
no. see below
@Kathy Stephens: Ask moron insurance commissioner Karen Weldin Stewart, but don’t hold your breath waiting for her to get back to you.
State insurance regulators have no authority over the NFIP. As such, Ms. Stewart has no say in the matter whatsoever. FEMA decides whether a community is progressing satisfactorily along a planned path toward rectifying deficiencies discovered under the requirements of the NFIP.
If a community is suspended or/ terminated from participation, they will lose eligibility, period, for some time. A community under suspension is ineligible for continued coverage under the NFIP. No renewals and no new policies issued.
If a community is simply placed on probation, a surcharge of $50.00 is added to all renewal and new business until the community is either suspended or has the probation removed.
http://www.fema.gov/floodplain-management/suspension#0
FEMA = GOVERNMENT. ‘Nuff said.