Florida SB 542 Passes

Florida’s SB 542 was signed into law on Friday, June 13th, 2014.  SB 542 is a bill establishing the rules for the sale and regulation of flood insurance outside of the National Flood Insurance Program.  As we covered in prior blogs, this bill establishes what flood coverage can be offered by private insurers, what the approval process will be, and lays the groundwork for what flood models and methods will be approvable.

Given that there is a window of time before some of the new rules set in, how will your company take advantage of the new possibilities afforded by the flood market?