22 Hoosier Banker September 2014 How does your current flood zone determination provider handle borderline situations? For example, if a structure is located near a 100year floodplain, does the provider’s system default to the conservative assessment that flood insurance is required? If so, how accurate is that automated response? Many companies rely fully on automated systems, despite potential for significant error. Because computers often accept approximate locations as “real” locations, their source material may be pushed far beyond accuracy. Their guess becomes your liability … and your customer’s headache. If you have been stung by automated inaccuracies or flood zone issues regarding your real estate transactions, consider Floodplain Consultants Inc. (FCI) as a quality solution. FCI, based in Brownsburg, Indiana, has been priding itself on accuracy and reliability since its founding in 1991. The company does not operate nationwide. Instead it focuses on the Midwest, including the states of Indiana, Illinois, Kentucky, Ohio, Tennessee and Michigan. With this focused attention, FCI is able to uphold the highest of site inspection standards and to provide superior certifications – all with the advantage of being familiar with the communities it serves. FCI serves over 300 lenders within the Midwest with flood zone determinations, census tracts, floodplain management and lifeof-loan services. It is a longtime Preferred Service Provider of the Indiana Bankers Association, currently serving more than 70 IBAmember banks. What sets FCI apart from competitors is that, in the event of questions regarding the location of a structure in relation to a special flood hazard area, FCI will conduct a site inspection with its own personnel – no sub-contracting. FCI thoroughly gathers all pertinent information to ensure an accurate determination. Barring questions about the structure or property, the determination generally is completed and presented to the lender within 24 hours. Additionally FCI provides life-of-loan services as part of the determination process. This enhanced level of service provides that, if a special flood hazard area changes in a manner that affects a reviewed property, FCI will notify the lender so that flood insurance can be obtained. This proactive attention to detail is crucial to the accuracy of the flood zone determination, and for this added assurance, FCI will be slightly more expensive than an automated competitor. However, lenders working with FCI have the peace of mind that collateral is properly designated and will remain so throughout future catastrophic events. Quality customer service is a major advantage to working with FCI. If at any time a lender or borrower has questions or seeks guidance, FCI will gladly provide prompt assistance over the phone or in person. FCI personnel have met with builders, developers and real estate agents, PSP SHOWCASE About the Author Rod Lasley is vice president-products & services of the Indiana Bankers Association, and also serves as president of the for-profit companies owned by the IBA. He can be reached at 317-387-9380, email: RLasley@indianabankers.org. Floodplain Consultants: Providing Accuracy and Reliability to Indiana Banks F C I Floodplain Consultants Inc. "We visit the site!" www.floodplain.com TM
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