FPCA Homeowners Division: Florida Hurricane Loss Projection Methodology Commission Seeks Testimony on Mitigation Credit System
Aug 24, 2009
In advance of a second meeting scheduled for September 17, 2009 to review Florida’s windstorm mitigation credit system, the Florida Commission on Hurricane Loss Projection Methodology (“Commission”) Windstorm Mitigation Committee is seeking comments and testimony on how insurers perceive the system and what their representatives think can be done to improve it.
Should you wish to participate in the September 17 meeting, please contact Katie Webb at kwebb@cftlaw.com at your earliest convenience before September 3. Those who cannot testify in person may submit their comments in writing.
As result of House Bill 1495 becoming law on June 1, 2009, the Commission is required to review discounts, credits, other rate differentials and reductions in deductibles relating to windstorm mitigation. These findings must then be presented in a report to Florida’s Executive and Legislative leadership by February 1, 2010.
To generate this report, the Commission planned a series of public hearings to gain a better understanding of the current process for granting wind mitigation credits, the first of which was held on August 12, 2009. To view a report on this meeting, click here.
The September 17 meeting, which will be the second in the series, will begin at 9 a.m. and is scheduled to adjourn at 4 p.m.
To view additional information and presentations from the August 12 meeting, click here.