Sec. 511. Clarifications; deadline for approval of claims
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Part C of chapter II of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4081 et seq.), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new section: For purposes of this part, the term knowingly means having actual knowledge of or acting with deliberate ignorance of or reckless disregard for the prohibitions under this part. A policyholder of a policy for flood insurance coverage made available under this title must exhaust all administrative remedies, including submission of disputed claims to appeal under any appeal process made available by the Administrator, prior to commencing legal action on any disputed claim under such a policy. .
Section 1312 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4019 ), as amended by the preceding provisions of this Act, is further amended— in subsection (a), by striking The Administrator and inserting Subject to other provisions of this section, the Administrator ; and by adding at the end the following new subsection: The Administrator shall provide that, in the case of any claim for damage to or loss of property under flood insurance coverage made available under this title, an initial determination regarding approval of a claim for payment or disapproval of the claim be made, and notification of such determination be provided to the insured making such claim, not later than the expiration of the 120-day period (as such period may be extended pursuant to paragraph (2)) beginning upon the day on which the policyholder submits a signed proof of loss detailing the damage and amount of the loss.
Payment of approved claims shall be made as soon as possible after such approval. The Administrator shall provide that the period referred to in paragraph
(1)may be extended by a single additional period of 15 days in cases where extraordinary circumstances are demonstrated. The Administrator shall, by regulation, establish criteria for demonstrating such extraordinary circumstances and for determining to which claims such extraordinary circumstances apply. . The amendments made by paragraph
(1)shall apply to any claim under flood insurance coverage made available under the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq.) pending on the date of the enactment of this Act and any claims made after such date of enactment.
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