Flood: Understanding and Recovering from One of Nature's Worst Disasters

ADJUSTINGTODAY.COM

ADJUSTING TODAY

Potential Pitfalls

There are a number of potential pitfalls in the FEMA process. Requested payments can be disallowed for a number of reasons, including:

Once a payment is made, audits may discover problems that, if unresolved, could force applicants to return some or all of the FEMA funds received. Some common problems include:

In the case of a flood-related disaster, eligible facilities within a Special Flood HazardArea may be subject to a reduction in eligible costs. This reduction, which can be as much as $1 million, is a penalty for the failure to carry insurance with either NFIP or a commercial carrier.

It is important to keep in mind that, as with an insurance claim, the applicant is responsible for providing documentation and maintaining all information pertaining to the damage and the grant request. It is equally important for applicants to stay informed on the ever-changing rules and regulations governing these programs, including 44 CFR and the Robert T. Stafford Act.

Adjusting Today on the Web — www.AdjustingToday.com

View our entire catalog of back issues, download PDF versions, subscribe and contact the editor

Jeff Shaw Adjusters International

CORPORATE OFFICE

126 Business Park Drive Utica, New York 13502 1.800.382.2468 Outside U.S. (315) 797.3035 FAX: (315) 272.2054 Editor@AdjustingToday.com

WEB ADDRESSES

www.AdjustersInternational.com www.AdjustingToday.com

PUBLISHER

Ronald A. Cuccaro, SPPA

EDITOR

Sheila E. Salvatore

ADJUSTING TODAY is published as a public service by Adjusters International, Inc. It is provided for general information and is not intended to replace professional insurance, legal and/or financial advice for specific cases.

AT00-4R 3033

PRINTED ON RECYCLED PAPER

Copyright © 2010 Adjusters International, Inc. Adjusters International ® and the AI logo are registered trademarks of Adjusters International, Inc.

Follow Adjusting Today on Facebook & Twitter:

Facebook.com/AdjustersInternational Twitter.com/AdjustingToday


RkJQdWJsaXNoZXIy NjIxNjMz