[Gotto]

Our flood insurance servicer is stating that they may accept Accords to evidence homeowners’ flood insurance coverage vs. declaration pages. We disagree based on the fact that Accords do not contain the 11 pieces of required information, but wanted Jack’s Compliance Resources’ perspective.

Topic

[jholzknecht]

The Accord Evidence of Flood Insurance Form used to meet the requirement, but I haven’t seen the form in a while. The required items include:
1. Policy Form/Type (GP, DP, RCBAP*, PRP)
2. Policy Term
3. Policy Number
4. Insured’s Name and Mailing Address
5. Property Location
6. Current Flood Risk Zone
7. Rated Flood Risk Zone (zone used for rating, including when grandfathering or issuing coverage under the PRP Eligibility Extension)
8. Grandfathered: Y/N
9. Mortgagee Name and Address
10. Coverage Limits and Deductibles
11. Annual Premium

[Author]

Replies