Buckley Webcast: New private flood insurance rules & recent flood litigation
Starting on July 1, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Federal Reserve, Farm Credit Administration, and National Credit Union Association will require the entities they supervise to accept certain types of private flood insurance policies and permit acceptance of others. The new rule is technical and highly nuanced.
Buckley attorneys Melissa Klimkiewicz and Amanda Lawrence discussed some of the most critical components of the new rule and potential pain points. They also discussed recent litigation involving financial institutions, and tips to reduce risk based on lessons learned from the litigation.