They may call your loan if flood insurance is cancelled. If your fire coverage, which is required by lenders, is cancelled, then the lender will pay for it and add the cost to your loan amount due. If fire insurance is not available to protect the structure and their investment they'll call the loan. Why wouldn't the lender do that if the flood insurance is cancelled?
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"I didn't care what she didn't 'low--I would boogie-woogie anyhow" John Lee Hooker