The steps below are intended to inform a policyholder under the National Flood Insurance Program (NFIP) how to complete an assignment of the Increase Cost of Compliance (ICC)-Coverage D claim payment to the community.
- Policyholder consents to the assignment of the ICC claim payment.
- The community official will provide the policyholder with an Assignment of Coverage D Form.
- The policyholder signs the form and provides the signed form to the community official.
- The community official sends a copy of the completed form, along with the community's signed declaration of substantial damage to the NFIP Bureau & Statistical Agent at the following address:
NFIP Bureau & Statistical Agent
8400 Corporate Drive, Suite 350
Landover, MD 20785
- NFIP Bureau & Statistical Agent maintains a database of the ICC information submitted by the community. The Bureau then sends the documents to the appropriate WYO company, with instructions. The company will then assign an adjuster.
- The assigned adjuster contacts the policyholder to advise s/he has the claim and contacts the local community official to coordinate and help complete the claim.
- The adjuster receives/reviews the contract for demolition, elevation, relocation or floodproofing to determine the cost.
- The adjuster has the community official sign the proof of loss once the claim value has been determined.
- The adjuster sends the final report, along with the Proof of Loss to the insurance company for payment.
- The insurance company issues the check to the community and advises the NFIP Bureau & Statistical Agent of the amount of the claim payment.
09/22/2015 - 13:53