Florida Commission on Hurricane Loss Projection Methodology Report On Windstorm Mitigation Credit Published Today; Interim Measures to Prevent ‘Further Deterioration’ Recommended
Feb 1, 2010
The Florida Commission on Hurricane Loss Projection Methodology (“Commission”) published its statutory report on Florida’s windstorm mitigation credit system today, February 1, 2010. To view the final report, click here.
Legislative changes effected by the 2009 passage of HB 1495 mandated the Commission to hold public information-gathering meetings on the implementation of windstorm mitigation insurance discounts. In fulfilling the new law, the Commission held six public meetings, after which it created today’s final report that was presented to Florida’s Governor, Cabinet, Senate President and the Speaker of the House of Representatives. The report includes recommendations for improving the process of assessing, determining and applying windstorm mitigation discounts in Florida.
The Commission’s recommendations are based on four areas of concern:
- Rating and the determination of windstorm mitigation discounts
- The residential structure inspection process
- Data quality
- Hurricane computer modeling
In its conclusion, the report’s executive summary states that “any interim measures should be implemented to help prevent the current system from deteriorating further.”
Should you have any comments or questions, please contact Colodny Fass.
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