Sec. 3. Improved disclosure requirement for standard flood insurance policies
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Section 100234 of the Biggert-Waters Flood Insurance Reform Act of 2012 ( 42 U.S.C. 4013a ) is amended by adding at the end the following new subsections: Each policy under the National Flood Insurance Program shall include a disclosure sheet that sets forth, in plain language— the definition of the term flood for purposes of coverage under the policy; a description of what type of flood forces are necessary so that losses from an event are covered under the policy, including overflow of inland or tidal waves, unusual and rapid accumulation or runoff of a surface any source, and mudflow; a statement of the types and characteristics of losses that are not covered under the policy; a summary of total cost and amount of insurance coverage; a statement that the disclosure sheet provides general information about the policyholder’s standard flood insurance policy; a statement that the standard flood insurance policy, together with the application, endorsements, and declarations page, make up the official contract and are controlling in the event that there is any difference between the information on the disclosure sheet and the information in the policy; and a statement that if the policyholder has any questions regarding information in the disclosure sheet or policy he or she should contact their insurance agent, together with the address and phone number at which to contact such agent.
Each policy under the National Flood Insurance Program shall include an acknowledgment sheet that sets forth, in plain language— a statement of whether or not there is a basement in the property to be covered by the policy; a statement of whether or not the policy provides coverage for the contents of the property covered by the policy; a statement that the standard flood insurance policy, together with the application, endorsements, and declarations page, make up the official contract and are controlling in the event that there is any difference between the information on the acknowledgment sheet and the information in the policy; and a statement that if the policyholder has any questions regarding information in the acknowledgment sheet or policy he or she should contact their insurance agent, together with the address and phone number at which to contact such agent.
A policy for flood insurance coverage under the National Flood Insurance Program may not take effect unless the disclosure sheet required under paragraph
(1)and the acknowledgment sheet required under paragraph (2), with respect to the policy, are signed and dated by the policyholder, the insurance agent who sold the policy, and a representative of the Administrator. The Administrator shall make policies under the National Flood Insurance Program, and the disclosure and acknowledgment sheets required by subsection (c), available in Spanish language versions and in such other languages as the Administrator considers appropriate and shall provide such a version at the request of the insured or prospective insured. The Administrator shall take such actions as may be necessary to inform insureds and prospective insures of the availability of policies in such languages other than English. In the case of any difference between the information that is provided pursuant to this subsection to a policyholder in the English language and in the Spanish or other language, the information provided in the English language shall be determinative. .
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Sec. 3
Improved disclosure requirement for standard flood insurance policies
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