Flood insurance and crime and riot insurance: hearing before the Subcommittee on Insurance of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, second session ... February 28, 1980
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Insurance
U.S. Government Printing Office, 1980 - Flood insurance - 515 pages
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action additional adjustment Administrator agencies amendment amount applicable areas assessment assistance Association authority basic building California civil claims Committee companies Congress continue contract cost coverage crime insurance damage Development disaster effect effort established EXHIBIT existing experience fact FAIR Plan Federal Insurance Federal Insurance Administration federal riot reinsurance fire flood insurance flood proofing funds hazard mitigation homeowners housing insurance companies interest issued land layer legislation Less lines loan meet Michigan million Mississippi NAIC offer operation owners paid participating payment percent Plaintiffs policies premium present problem property insurance protection question rates reasonable recent regulations reinsurance contract relocation representatives respect response result riot losses riot reinsurance program risks Senator Stewart September share standards statement structures termination underwriting United urban York
Page 111 - Secretary shall from time to time develop comprehensive criteria designed to encourage, where necessary, the adoption of adequate State and local measures which, to the maximum extent feasible, will — (1) constrict the development of land which is exposed to flood damage where appropriate, (2) guide the development of proposed construction away from locations which are threatened by flood hazards, (3) assist in reducing damage caused by floods, and (4) otherwise improve the long-range land management...
Page 94 - Stat. 975), in order to avoid to the extent possible the long- and short-term adverse impacts associated with the occupancy and modification of floodplains and to avoid direct or indirect support of floodplain development whereever there is a practicable alternative, it is hereby ordered as follows: Sec.
Page 260 - State in which the rates or advisory rates set by the principal State-licensed rating organization for essential property insurance in the voluntary market are not reflective of the indicated rates based on the voluntary insurance market experience; the state insurance authority shall transmit to the Administrator: (i) A copy of the Program; and (ii) An explanation of the Program; and...
Page 260 - State FAIR Plan Report. The first such report shall include copies of all previously published annual and interim reports not already furnished to the Administrator. Subsequent reports shall include any additional printed or published report under the Plan. (d) For periods beginning on and after January 1, 1970, each placement facility under the Plan shall also provide the Administrator with quarterannual reports of its current operations on Form HUD-1603, which the Administrator shall furnish to...
Page 256 - ... such property. (d) Coverage provided under the deemer or binder provisions of the Plan shall be at the normal rates for the class of property to be insured, exclusive of any surcharge, but shall be subject to an appropriate premium adjustment, if necessary, after the property has been inspected. (e) It is expected that no policyholder will be without coverage following a cancellation or nonrenewal under the Plan or otherwise, due solely to delays in inspecting and placing the risk under the Plan,...
Page 253 - Insurer participation and placement program. (a) The Plan's placement program may take any of a variety of forms; for example, it may involve a syndicated or direct writing pool, an assigned risk facility, a reinsurance pool or association, or combinations of the foregoing. (b) The Plan shall not discriminate against, shall provide for full cooperation with, and shall seek cooperation from all agents and brokers licensed to write property lines in the State. The inclusion of agents and brokers on...
Page 46 - Mr. Chairman and members of the Committee. I am honored to appear before you today to discuss the President's FY 2003 budget for the Department of Health and Human Services (HHS).
Page 482 - State insurance authorities and the property insurance industry to develop and carry out statewide programs which will make necessary property insurance coverage against the fire, crime, and other perils more readily available for residential, business, and other properties meeting reasonable underwriting standards...
Page 250 - urban area" includes any municipality or other political subdivision of a State, subject to population or other limitations defined in rules and regulations of the Secretary and such additional areas as may be designated by the State insurance authority; and (16) "year...