Florida Commission on Hurricane Loss Projection Methodology Committee to Discuss Development of Flood Standards at September 30 Meeting
Sep 23, 2014
The Florida Commission on Hurricane Loss Projection Methodology (“FCHLPM”) Acceptability Process Committee (“Committee”) will meet on September 30, 2014 in Tallahassee on the process and timeline for development of standards and guidelines relating to projected personal lines residential flood loss.
CS/CS/CS/SB 542, enacted into law earlier this year, established parameters for the regulation of a private flood insurance market in Florida. Among its provisions included a requirement for the FCHLPM to establish and adopt the aforementioned standards.
At its meeting next week, the Committee will discuss the attached draft presentation on the development of flood standards. In addition to related discussion points, it outlines FCHLPM’s responsibilities under the new law. The Committee is chaired by Florida Hurricane Catastrophe Fund Chief Operating Officer Jack Nicholson.
Also attached is a draft of proposed edits to the FCHLPM’s Report of Activities that incorporates the addition of flood standards and concepts recommended in the presentation.
The September 30 meeting is scheduled from 9:00 a.m. to 12:00 p.m. at the Hermitage Conference Room (Hermitage Centre; 1801 Hermitage Boulevard; Tallahassee, Florida).
To access the meeting via teleconference, dial (888) 670-3525 and enter conference code 7135858151. International callers can use (720) 389-1212.
Webinar/Webcast access is also available by registering at: https://www1.gotomeeting.com/register/901566208.
Meanwhile, the FCHLPM meets tomorrow, September 24, during which the Committee is scheduled to provide a preview of its activities.
A Colodny Fass& Webb representative will attend the meeting and provide a report.
Should you have any questions or comments, please contact Colodny Fass& Webb.
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