From the Outlook Live Webinar, October 1, 2014:
Wolf: Are flood insurance premiums included in homeowner’s insurance for purposes of the escrow disclosure and the taxes, insurance and assessments disclosure on the Projected Payments table?
Walton-Fein: Yes, flood insurance is included in homeowner’s insurance. Under § 1026.37(c)(4)(ii), the items included in homeowners insurance are those charges identified in § 1026.4(b)(8). The charges identified in § 1026.4(b)(8) are premium or other charges for insurance against loss of or damage to property, or against liability arising out of the ownership or use of property written in connection with the credit transaction. This would include flood insurance.
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