Friday, August 3, 2018
OKLAHOMA CITY – Property insurance professionals in Oklahoma will soon be required to expand their knowledge on flood insurance. Gov. Mary Fallin signed a rule this week requiring one hour of flood insurance continuing education beginning January 2019.
“Many Oklahomans don’t know they can purchase flood insurance if they don’t live in a flood zone,” Oklahoma Insurance Commissioner John D. Doak said. “But flood damage is not covered under a standard homeowner’s policy, and it can be a catastrophe that many property owners would not rebound from without coverage.”
With the new education requirement, insurance professionals will learn what is covered in flood policies. A flood insurance policy is separate from a homeowner’s policy which, in most cases, does not pay for flood claims. The National Flood Insurance Program is run by the Federal Emergency Management Agency. It works with nearly 90 private insurance companies to offer flood insurance.
“Our goal is to make sure Oklahomans have the facts on flood insurance. It was apparent to us that the best way to communicate that message was directly through insurance professionals,” Doak said. “The knowledge gained from this flood insurance course will allow insurance professionals to provide the most accurate information on flood coverage.”
Resident producers, customer service representatives (CSRs) and adjusters with a property line of authority will have to complete one hour of continuing education per license period. The flood CE credit will be included in the 24 hours (13 hours for CSRs) as general credits. Flood courses will be available in September but are not required until January.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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For more information, contact:
Kesha Keith
405-522-4066
Kesha.Keith@oid.ok.gov