HB5450 Summary: Improving Access to Flood Insurance Act

• Creates requirement for insurance producers, public adjusters, managing brokers, brokers, and lender employees to complete at least 3 hours of National Flood Insurance Program training covering program elements and flood risk reduction strategies.

• Requires the Department of Insurance to maintain a list of pre-approved training courses from the Federal Emergency Management Agency's Emergency Management Institute and other equivalent educational institutions, with instructions for securing credit for equivalent courses not on the approved list.

• Mandates that regulated professionals submit evidence of training completion to their licensing entity and treats violations as violations under their respective licensing laws.

• Amends the Illinois Insurance Code and Real Estate License Act of 2000 to incorporate flood insurance training requirements into continuing education obligations for insurance producers, public adjusters, and real estate brokers.