Education & Events

Flood Insurance Requirements

Aug 22, 2019
IBA Center for Professional Development
Program Overview: 

Printable BrochureFlood insurance remains one of the hottest topics during a compliance examination. Every time anyone in the bank makes a flood error, there is potential for a $2,187 fine. And multiple errors in the same loan can result in multiple fines. This, combined with the weather and flooding we have experienced this year, means that bankers have to do everything possible to protect themselves from the elements and the regulators. As a result, now, more than ever, we need to assure that the loan origination and servicing process is free of any deficiencies, including completion of documents, getting adequate insurance when required, and other errors.

This seminar will include the need-to-know areas of flood insurance for your organization including recent changes to the flood rules, including the rules for private flood insurance which became effective July 1. The focus will be on both the loan origination process and the servicing process, and the steps that bankers must take to assure appropriate compliance. Included in the presentation will be examples from the real world, explaining exactly how “not to do it.”


• The current state of the flood rules
• Loan origination and flood
• Flood insurance strengths and weaknesses
• Flood insurance limits
• How to determine the amount of flood insurance required
• The unique issues surrounding condominiums
• Appropriate procedures
• Loan servicing issues
• Force placing insurance
• Private flood insurance


Bill Elliott has over 40 years of banking experience. As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.
Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.


8:30 a.m.                   Registration & Continental Breakfast
9:00 a.m.                   Program Begins
12:00 Noon                 Lunch (included)
1:00 p.m.                   Program Resumes
4:00 p.m.                   Program Adjourns


This seminar will be held at the IBA Center for Professional Development, 8425 Woodfield Crossing Blvd. Suite 155E, Indianapolis, IN 46240. A list of hotels are available by calling 317-387-9380 or by looking online at the bottom of our website's home page at


The following fees include the program, materials, lunch and refreshments:

$325 IBA Members
$155 Each Additional IBA Member
$650 Non-Members

Participation in IBA programs is limited to members, associate members, and nonmembers from an eligible membership category at applicable member or non-member rates.

Additional Information: 


As this presentation will include the entire flood insurance process, loan officers, processors, loan servicing personnel, and loan management at all levels should attend. Others in your institution will find value in this presentation, including auditors, and any others with flood insurance responsibilities within the institution.

Association Contact: 

For more information please contact Elizabeth DeHaven via e-mail at or call 317-387-9380.

Cancellation Policy: 

Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed.  Refunds are not provided for cancellations 1 day prior or absences on the day of the program.  Substitutions are welcome at any time.

Related Events

Hoosier Banker Digital

Hoosier Banker Media Kit