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We have a customer that has 3 buildings that are each 8-units. In reviewing the Biggert-Waters it says mutifamily structures are eligible for flood insurance up to the coverage amount of $500,000 per unit. The customer has building A & B insured for $498,000 but building C is insured for $530,000. This policy is written through a private insurer. Would there be a violation of over the $500,000 limit on building C or are buildings A&B underinsured and need to be written for $500,000?
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