[rcooper]

This question was originally posted in our Compliance Master Group forum by jsecor.

I have a question on the 45 day notices and who is receiving them. So if a customer currently has insurance but they are up for renewal in 45 days and we have not received anything from the insurance agency or the customer indicating that they have paid their renewal or have cancelled is this when we would start the letters and the 45 day timing? I’m just thinking we will have lots of customers wondering why we are sending letters out when they are going to renew or their insurance company is just slow in getting paperwork to us. I can also see this as a lot of work getting letters out. Did I understand this correctly?

[rcooper]

You are not required to begin the notice process 45 days before renewal. I believe the point Jack was making was that unlike force-placing flood insurance, where you are required to wait to start the force-place process until the policy expires which often creates a 15 day gap of no insurance after the grace period end, you are not required to wait until the policy expires to begin the notification process.

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