Florida Commission on Hurricane Loss Projection Methodology To Meet September 27-28

Sep 22, 2017

The Florida Commission on Hurricane Loss Projection Methodology (“FCHLPM”) has scheduled a series of meetings for September 27 and 28, 2017 to discuss the 2017 hurricane standards and the acceptability process.

Various administrative aspects of the flood standards adopted this past June will also be finalized. Florida law requires any revised flood standards and procedures to be adopted on October 25 and 26, 2017 coinciding with the adoption of the 2017 Florida Hurricane Loss Projection Standards and Procedures.

At its December 13, 2016 meeting, the FHCLPM had identified the following inquiries to be addressed by the Professional Team and the modeling organizations during the 2017 on-site reviews:

1. Investigate the condo-unit floor location impact on loss costs. How is lack of floor location treated?

2. Investigate aspects of the model and inputs that could lead to the greatest reduction in the uncertainty in model outputs (e.g., hurricane frequency, damage functions, incorrect data input, granularity of exposure location (ZIP Code centroid versus street address) data input).

3. Investigate how contamination of claims data (flood loss counted as wind loss) impacts validation and model output.

4. Investigate how the treatment of inland versus coastal exposures has an effect on the spatial evaluation of vulnerability functions.

Each of the inquiries is discussed in the “Commission Inquiry Report” via hyperlink below.

Although the September 27 and 28 meetings will take place in Tallahassee, interested parties can participate by either conference call or Webinar and call-in audio.

Persons in the U.S. and Canada wishing to participate by telephone may dial (888) 670-3525. Persons outside of the U.S. and Canada wishing to participate by telephone may dial (720) 389-1212. The conference code for all callers is 7135858151.

Webinar registration information is attached.

Should you have any questions or comments, please contact Colodny Fass.

Click here to follow Colodny Fass on Twitter (@ColodnyFassLaw)

Florida Commission on Hurricane Loss Projection Methodology To Meet September 27-28

News Library

RSS Subscribe