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UPDATE on FEMA’s Decision regarding cancellation CODE 26

UPDATE on FEMA’s Decision regarding cancellation CODE 26

We want to make sure you’re aware that FEMA has provided clarification regarding Cancellation Reason Code 26. On March 18, FEMA released Bulletin W-19002, which clarifies the contradiction between the NFIP October 2018 program changes and new flood manual.
FEMA’s Decision
In order to cancel an NFIP policy due to duplicate coverage from sources other than the NFIP, this reason code can only be used when the insured did not intend to renew or purchase the NFIP policy.
The NFIP will assume that an insured did not intend to renew their policy if they purchased a duplicate non-NFIP policy prior to the NFIP policy’s purchase or renewal date.
Your agent must submit the request to cancel within 30 days of the NFIP policy effective date. The premium refund will include fees and surcharges.

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