Affordable Homeowners Insurance Commission
AUGUST-29-2012Affordable HomeownersInsurance CommissionREPORTS OF COMMISSION SUBCOMMITTEES
1COMMISSIONERSEXECUTIVE SUMMARYEDUCATION SUBCOMMITTEE REPORTSMITIGATION SUBCOMMITTEE REPORTSREGULATORY SUBCOMMITTEE REPORTSSTATUTORY SUBCOMMITTEE REPORTS235143542AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONCONTENTSAUGUST 29, 2012REPORTS OF COMMISSIONSUBCOMMITTEES
2COMMISSIONERSACADEMIC RESOURCESThomas Pieplow – Athens State UniversityDon-Terry Veal – Auburn University, Center for Governmental ServicesBenjamin Woodruff – University of AlabamaEzekiel Nichols – University of AlabamaCommission meetings were facilitated by the Center for Governmental Servicesat Auburn University, as requested by the Commission Chair. This report wasassembled and edited by the Center for Governmental Services.AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONTim Russell (Chair) – Probate Judge, Baldwin CountyJulie Magee – Commissioner, Alabama Department of RevenueJim Ridling – Commissioner, Alabama Department of InsuranceBen Brooks – Senator, District 35Steve McMillan – Representative, District 95A.J. McCampbell – Representative, District 71Joe Faust – Representative, District 94David Sessions – Representative, District 105Mike Hill – Representative, District 41John Caylor – ConsumerRux Bentley – Independent AgentMichelle Kurtz – Consumer/Homeowners Hurricane Insurance InitiativeSteve Simkins – State FarmWayne Parker – Independent AgentElizabeth Huntley – Consumer/AttorneySid Belcher – ALFATom Malone – ConsumerJim Higdon – ConsumerJoe Ruffer – Engineer, Mobile City/CountyGregg Armstrong – ConsumerJoe Demos – State FarmDarius Foster – ConsumerAubury Fuller – Independent BusinessmanCarl Schneider – Independent Agent/Smart Home AmericaK. Carl Smith – ConsumerJ. Gary Ellis – Consumer/GUMBOGeoff Plott – Wells FargoDonald Price – Independent Risk Management, CPAJerry Workman – Farmers InsuranceAUGUST 29, 2012APPOINTED BY GOVERNOR ROBERT BENTLEY
3EXECUTIVE SUMMARYThe Affordable Homeowners InsuranceDuring the first stage the Commission heldRobert Bentley in August 2011. Within anthe State. The locations, Mobile, Dothan,rate-related crisis, the Governor charged theCommission with exploring existing issues andthen making recommendations that may beconsidered. In addressing the thirty-memberCommission for the first time on August 1,2011, the Governor requested that actions beconducted within a framework of consensus-building: “The customers that are in this state,they need choice and they need affordability. Iwant you to be willing to go to different areas ofthe state and hear those people in those areas.”The Commission, originally formed to deal withrising costs of homeowners insurance, and theavailability of insurance or reinsurance within theGulf Coast region, expanded to include the entireState. In the wake of disasters impacting thestate, whether hurricanes, tornadoes or oil spills,homeowners continue to be confronted withinsurance, building, and rebuilding challenges.It was recognized that insurance availabilityand cost disparities among and between thegeographical regions of the state are prevalent.The Commission, chaired by Judge Tim Russell,Baldwin County Judge of Probate, determinedto proceed by organizing the activities into three(3) primary stages: education and informationgathering, compilation and evaluation, anddevelopment of priorities and recommendations.Guntersville, Tuscaloosa and Decatur, werestrategically selected so that the Commissioncould hear directly from the citizenry impactedby the insurance crisis. Other experts fromthe fields of insurance, risk managementand disaster mitigation also met with theCommission. As a result, an extensive array ofbest practices, research, models, and optionswere generated.The second stage of compiling the informationand data for use in comparisons and applicationsto circumstances in Alabama began. Among theinformation assembled was a cumulative reportof the Coastal Recovery Commission (CRC)that served as a model and reference point forsome of the work of the AHIC. Discussions thatcentered on the merits of the options designedto positively impact the insurance crisis ensued,with the opinions and input from diverse sourcesexamined.In the final stage, Dr. Don-Terry Veal, directorof the Center for Governmental Services (CGS)at Auburn University, was appointed as amoderator by Judge Tim Russell, citing that “Thecommission has strong differences of opinion,which is good, but a moderator can help uscome together and settle upon majority andminority decisions.” A process ensuring that allvoices would be heard was provided by CGS andapproved for use by the Commission.AUGUST 29, 2012environment of insurance availability andlistening sessions at five (5) locations throughoutAFFORDABLE HOMEOWNERS INSURANCE COMMISSIONCommission (AHIC) was enacted by Governor
4Over the next few months the CommissionThe Commission has reached consensus.groups, evaluated, and debated, resulting inwork conducted by the Affordable Homeownersidentified and ranked priorities, met in smallPlease accept this report as a summary of thethe formulation of four subcommittees. TheInsurance Commission.subcommittees dealt with the broad areas ofneed for which solutions are being sought. TheSincerely,subcommittees are: 1). Education (to includea Concept to Create an Alabama Center forInsurance Information and Research), 2).Mitigation, 3). Regulatory, and 4). Statutory.Each subcommittee further developed prioritiesJudge Tim Russell, ChairAffordable Homeowners Insurance Commissionand potential solutions. The result of workconducted by the subcommittees is reportsfrom each group that summarize and identifyrecommendations that will be submitted tosubcommittees are compiled in this document.The Commission members and the supportgroup have worked thousands of hours andhave traveled thousands of miles withoutreimbursement to serve at the pleasure ofthe Governor and the citizens of Alabama. Ipersonally would like to thank the Commissionmembers, Reese Hodges, Auburn UniversityCenter for Governmental Services, thecommission’s two doctoral students from theUniversity of Alabama, Mr. Ben Woodruff and Mr.Ezekiel Nichols, as well as, Dr. Thomas Pieplowfrom Athens State University.AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONthe Legislature. The reports from each of theAUGUST 29, 2012Governor Robert Bentley, and considered by
5REPORT OF THE EDUCATIONSUBCOMMITTEEConcept to Create an Alabama Centerfor Insurance Information & ResearchSubmitted by Subcommittee Members:J. Gary Ellis, ChairGeoff Plott, Co-ChairDonald PriceBenjamin WoodruffEzekiel NicholsJulie Magee (ex-officio)Jim Ridling (ex-officio)Tim Russell (ex-officio)J. Gary Ellis, ChairAFFORDABLE HOMEOWNERS INSURANCE COMMISSIONAUGUST 29, 2012Jerry Workman
6Mission StatementThe Center’s Core Focus Is:The Alabama Center for Insurance Information &Research will be an independent nonprofit centerof excellence which supports and promotesactivities that strengthen the competitiveinsurance market in Alabama for benefit of ahealthy economic environment and service toconsumers. The center will provide educationprograms using partner organizations andleadership to develop innovative approachesto solving problems associated with insuranceissues. This will require independent analysisand research to implement well-informeddecisions. Issues to address include, but arenot limited to, the fields of engineering, buildingscience, architecture, accounting and finance,risk management, insurance, building codesand enforcement, inspections, teaching andcommunication, and other fields of expertise asneeded. The cross-discipline, multi-professionapproach will be a center for insurance andmitigation analysis, research and education.It will provide independent interpretation ofinformation and provide opinions and unbiasedconclusions. Education and outreach Research and repository of information To facilitate collaboration among agenciesand stakeholders To foster leadership and engagement byacademic institutions and studentsThe Alabama Affordable Homeowners InsuranceCommission suggests to Governor Bentley toseek proposals from Alabama’s educationalinstitutions to provide comprehensive proposalsto facilitate, develop, establish, and managean Alabama Center for Insurance Information& Research that will provide information andresearch for use by the various stakeholdersincluding state and federal agencies, policymakers, insurance companies, elected officials,and the public at large. The intent is to providea healthy and aggressive technology frameworkmaking information readily available to allstakeholders.Be a statewide, credible, and respectedsource of information on risk management Build capacity in insurance research Create platforms for better collaborationamong academia, professional associations,trade groups, government agencies, andstakeholders in each community Provide valuable new insights to policymakers, consumers, and insurance and riskmanagement professionals alike Identify barriers that may distract newinsurers from doing business in Alabama Be independent, high quality and rapidlyresponsive to all stakeholders Identify insurance industry strategies andactivities that can benefit Alabama’s economyand quality of life Identify opportunities for insurance industrypartnerships and collaborations betweenthe public, academic institutions, tradeassociations, and consumer groups Coordinate and disseminate informationrelated to catastrophic storm riskmanagement, including but not limitedto research and information that benefitsbusinesses, consumers, and public policymakersAUGUST 29, 2012 AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONRequest for ProposalThe Center’s Goals Are to:
7Create and promote studies that enhancethe educational options available to riskmanagement and insurance students, whichencourage academic enrollment Publish and disseminate findings primarilyrelated to risk management on a regular basis Organize and sponsor conferences, symposiaand workshops to educate consumers andpolicymakers Be financially sustainable with dedicatedfunding Operate in an accountable manner withestablished deliverables and performancematrix Use all available expertise and infrastructureavailable to distribute education, research,and economic information Establish a communication outreach programto citizens and public at largeAlso, the Center’s goals would be to provideresearch to officials interested in or impactedby insurance and underlying factors that driveinsurance pricing, terms, and availability,including such topics as: Home design, construction materials andtechniques that would increase resistanceto strong winds, hail, and wind driven rains(architecture, material science, buildingscience, atmospheric science), to reducerates by fostering more options Ways to enhance the captive insuranceindustry in Alabama Educating Alabama’s congressionaldelegation and policy makers about why thecatastrophe reinsurance market has movedoffshore and how to bring it and its relatedwell-paying jobs back to the United Statesand to Alabama without cost to taxpayers Approaches to increasing Alabama’sattractiveness to potential out of statehomeowner insurers Approaches to reducing the price surge inlodging and building materials following acatastrophic event Improvements in regulation that wouldbalance consumers’ needs with the desire toattract new insurers to AlabamaAlabama Center for InsuranceInformation & ResearchThis proposal calls for establishing an AlabamaCenter for Insurance Information & Researchat a university or central location in Alabama.Research indicates that a relatively smallinvestment in a center as described can yieldlarge returns to the state in terms such asreduced costs and increased benefits from riskmanagement expenditures, enhanced availabilityof insurance, and increased productivity. Inrecent years, Alabama has faced financial,meteorological, and health-related crises ofhistoric proportions, underscoring the needfor a deeper insurance and risk managementknowledge base. The committee recommendsreviewing other centers to discover what worksand what does not, and how we can improveour initial plan. Several examples are referred tounder the heading “Other Models and Examples”as an appendix to this draft.Cost of Risk to the State of AlabamaLike most environments, the State of Alabamais subject to many natural catastrophic eventsincluding tornadoes, hurricanes, hailstorms,floods, and earthquakes, to name the mostsevere perils. It is subject to man-madecatastrophes such as pollution, epidemics, andconflagrations, as well as oil spills beyond ourcontrol.Every day Alabamians must deal with the usualperils that can destroy the finances of a businessAUGUST 29, 2012 Facilitate Alabama’s preparedness andresponsiveness to catastrophic storms andcollaborate with other public and privateinstitutionsAFFORDABLE HOMEOWNERS INSURANCE COMMISSION
8 Availability of insurance. The addition of newinsurance companies increases competitionin the marketplace. What barriers, if any, arekeeping additional financially sound insurancecompanies out of the Alabama market? Whatwill bring additional insurers into the market? Insurance rate mitigation. What measures canbe taken to reduce insurance rates? Whatis the ratio of benefits to cost for variousapproaches? How can the consumer get thebest return on their investment? How can individuals and families mosteffectively manage the personal risks theyface such as premature death, disability,medical expense, and outliving theirresources? The cost of healthcare consumesapproximately eighteen percent of GDP inthe United States and the trend is inexorablyupward. What approaches to providing andfinancing healthcare have been effective inother states and nations? Are any elementsof these approaches relevant for the Stateof Alabama? What lessons, if any, may belearned from the experience of others? Worker compensation is a significant issuefor many businesses. What approachesfor making this essential program moreefficient and effective have proved successfulelsewhere? What techniques beyond insurance might beused to manage risk effectively, especiallyin disaster-prone areas such as the coast?How can these techniques be employed byfamilies and businesses? What public policy measures might be helpfulfor making insurance more easily availableat a reasonable price? What has workedelsewhere? What has been tried and failed? How can businesses and government infuserisk management techniques into decisionmaking processes to enhance the wellbenefits to all stakeholders?ImplementationPHASE ONE:Planning and structuring of operating entity,including development of funding sourcesPHASE TWO:Establishment by legislature to set itsauthority, role and funding resources(research, information exchange and training)ResearchThe families and businesses of Alabama canbenefit significantly from the creation of anAlabama Center for Insurance Information &Research that carries out credible, high-qualityresearch leading to pragmatic results. Its outputshould influence public policy and providepractical benefits to the public, professionalorganizations, trade groups, and non-profitAUGUST 29, 2012Improvements in the risk management processcan provide substantial savings on what isknown as cost of risk which include factors suchas insurance premiums, uninsured losses, lossprevention efforts, and administration. Annuallythe cost of risk in the State of Alabama runsinto the hundreds of millions of dollars. Even asmall improvement in this number can justify asubstantial investment in research and education– both of which can be provided by the AlabamaCenter for Insurance Information & Research.organizations. Among the many issues that theCenter might address are:AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONor a family. These include potential liabilityfrom operating a car (or fleet of cars), loss of adwelling (or factory); loss of earnings when abusiness is out of commission, paying medicalbills; replacing the earnings of a breadwinner (orkey person in a firm), and planning for retirement(or providing pensions for a workforce). The costof risk managing is substantial and adds up to asignificant percentage of a family, or business’sbudget. Managing risks in the most efficient andeffective way is an ongoing battle that leavesmost people confused and frustrated – and oftenthey end up doing the wrong thing.
9Information, Education and TrainingProvide consumers with the knowledge theyneed to make intelligent risk managementdecisions (including the purchase ofinsurance) and lower their cost of risk. Thiscould be done online, via television and radiopublic service announcements, and throughcommunity-based seminars led by instructorswho have been trained through the center. Establish a source of information readilyaccessible and understandable to answerconsumer questions about insurance, suchas: how does insurance work; what arethe different types of insurance and whatbasic knowledge does any consumer needconcerning each type; what do I do if Ihave a claim; what are the social benefits ofinsurance; how are premiums determined;what happens to the premiums I pay toinsurers; how significant is fraud in the costof insurance, and what can I do if I suspectsomeone of fraud; how do I shop mosteffectively to get the right insurance for me,my family, and business, and how do I keepmy rates down; how are insurance companiesregulated, and how can I involve regulatorsif I believe the law is being broken; what arethe different types of insurance distributionsystems and what are the features of each;what is the nature of financial ratings oninsurance companies, and how do I findthe financial rating on my carrier; what arethe probabilities of various types of losses(e.g., death by accident and otherwise, autoProvide training for K – 12 teachers so thatthey can teach financial literacy, includinginsurance literacy, to their students. Provide models for institutions of higherlearning on how to initiate risk managementand insurance education into their curricula. Enlist college students to help consumerswith their questions about insurance andother risk management techniquesThe Center would work with many otherorganizations including nonprofit foundationsestablished to conduct education and researchin insurance and risk management, universitiesthroughout the world, the Alabama InsuranceDepartment, and other state agencies chargedwith providing related services.A Home for the Alabama Center forInsurance Information & ResearchThe Alabama Center for Insurance Information& Research’s mission calls for it to developprograms that will enhance public policy makers’knowledge and provide practical solutionsthat benefit the citizens of the state. To dothis effectively the Center must have accessto a wealth of resources that can be reachedthrough both formal and informal channels.Furthermore, it should be respected for its highlevel of competence, integrity, and credibility.To accomplish this mission in the most effectiveand efficient manner it could be located on auniversity campus, where most of the intellectualand support resources needed are already inplace. Sound decisions on this multi-dimensionalsubject require input from a wide variety ofperspectives. Furthermore, the Center’s leadermust be highly respected and recognized forwork in his or her field. The location that will house the AlabamaCenter for Insurance Information & Researchshould be well-positioned to serve as a homeAUGUST 29, 2012 AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONAs stated, the Alabama Center for InsuranceInformation & Research would have an importantrole in providing public information, education,and training functions that would benefit citizensthroughout the state. Intelligent consumersmake markets more efficient and effective, whichpromotes the ability of the free enterprise systemto provide the most goods and services forthe least cost and improve business practices.Among the areas of consumer educationand training the Center could provide are thefollowing:crashes and collision with deer and otheranimals, house fires, tornadoes, hurricane,disability)?
10DirectorThe director should be a seasonedprofessional, acclaimed with highly-respectedcredentials in his or her fields of researchand experience, capable of leadership at thehighest level with demonstrated success inwriting grant and contract applications foroutside funding of projects.Research AssociateA seasoned researcher, preferably publishedin some credible documentation of fieldresearch.Communications DirectorExperienced in developing and implementingmulti-channel communications and outreach.Graduate Assistants/InternsThe applicants might be Ph.D. studentswho benefit by furthering their researchwhile creating doctoral dissertations, thusbenefiting the state by increasing the pool oftalented scientists.The Alabama Center for Insurance Information& Research Advisory Committee/Board willprovide direction, information, experience,education, and advice to the Alabama Centerfor Insurance Information & Research staff.The committee/board is a seamless network ofvoluntary participants including governmental,business, and non-profit organizationsdedicated to working with the Center to informAlabamians about the benefits of insurance asan individual and business risk managementtool while educating them about its applications,components, and limitations. The committee/board will assist the Center in using actuarialand issue-based research about insurance inpartnerships with professional organizations,schools, businesses, community groups, andother non-profits with the fundamental objectiveof empowering Alabamians with the knowledgethey need to make intelligent risk managementdecisions for themselves and/or their businesses.Members for ConsiderationGovernor of AlabamaAlabama Department of InsuranceAlabama Department of RevenueAlabama Senate and House InsuranceCommittee ChairpersonAlabama Independent Insurance AgentsAssociationAlabama Insurance Information ServiceAlabama Association of RealtorsAlabama Bankers AssociationAlabama Mortgage Bankers AssociationAlabama Life Underwriters (NAIFA)Alabama Smart Homes (Smart HomesAmerica)AUGUST 29, 2012Suggested Organizational StructureThe Alabama Center for InsuranceInformation & Research AdvisoryCommittee/BoardAFFORDABLE HOMEOWNERS INSURANCE COMMISSIONfor such credible information and research.The center setting should be able to providehighly-qualified faculty in closely relatedareas such as actuarial science, statistics andmathematics, engineering, natural sciences,law, and public policy.
11Business Council of AlabamaConsumer Group Organizations andNonprofitsInsurance CompaniesPotential Academic PartnersAlabama State UniversityPotential Trade Association PartnersHome Builders Association of AlabamaMortgage Bankers Association of AlabamaAgencies and Groups in Other StatesNational Association of InsuranceCommissionersAthens State UniversitySamford UniversityTroy UniversityTuskegee UniversityUniversity of AlabamaUniversity of Alabama at BirminghamFederal Emergency Management AgencyU.S. Government Accountability OfficeNon-Government ResearchOrganizationsCaptive Insurance Companies AssociationUniversity of Alabama in HuntsvilleCarnegie Institution for ScienceUniversity of MontevalloIndependent insurance agenciesUniversity of South AlabamaRisk Management SocietyPotential Professional PartnersInsurance Industry Rating Agency andResearch GroupAlabama Society of Certified AccountantsAlabama Society of Professional EngineersAmerican Institute of ArchitectsAlabama State BarCasualty Actuarial SocietyAmerican Risk and Insurance AssociationSociety of ActuariesInternational Code CouncilCode Officials Associations of Alabama(COAA)Alabama Section of American Society of CivilEngineersIndustry Research and TradeAssociationsAmerican Insurance AssociationInsurance Institute for Business and HomeSafetyReinsurance Association of AmericaProperty Casualty Insurance AssociationAUGUST 29, 2012Auburn University at MontgomeryFederal AgenciesAFFORDABLE HOMEOWNERS INSURANCE COMMISSIONAuburn University
12Hazards and Vulnerability ResearchInstitute (University of SouthCarolina)http://webra.cas.sc.edu/hvriThey are associated with the Department ofGeography and they work with homelandsecurity, NASA, Army Corps of Engineers,National Science Foundation and NOAA.Researchers outside of USC include individualsfrom Benedict College, LSU, University ofArizona and the Norwegian University of Scienceand Technology. Student researchers include adozen PhD students across seven disciplinesand six Masters and undergraduate students.Center for the Study of NaturalHazards and Disasters (University ofNorth Carolina)http://hazardscenter.unc.eduThe advisory board is made up of professorsfrom different schools (Civil Engineering atGeorgia Tech, Environmental Science atAppalachian State, Engineering at TexasA&M, Engineering at Jackson state) aswell as government officials and industryrepresentatives. Geographically they come fromacross the nation but a great many have tiesto North Carolina. The Principle Investigatorsare delineated into Coastal Hazards Modeling(with reps from Miss State and Oklahoma),Engineering (reps from NC State, LSU, and TexasSouthern), Planning (reps from UNC Chapel Hill),and Social Science (reps from Connecticut andLSU). The actual staff members are all UNC-CHprofessors from various disciplines.Risk Management and DecisionProcess Center (University nterNot much information is available because theUniversity of Pennsylvania are a private school.They list corporate associations which arecompanies which are paying for research tobe completed. They have a list for governmentpartners (DHS, DoT, FEMA, USDA, EPA) includinginternational groups (OECD, World Bank, andWorld Economic Forum). They do not list exactlywho they work with but the listed academicpartners include Carnegie Mellon, University ofWisconsin- Madison, CREATE at USC, GeorgiaState University, Harvard, and University ofMichigan. The Research Team is directed byprofessors from Wharton’s Risk Managementprogram. The Research fellows come frommostly other Ivy League schools. There is also avisiting scholars program with individuals fromEurope and the Pacific Rim.Stephenson Disaster ManagementInstitute (Louisiana State University)http://www.sdmi.lsu.eduThe Board of Experts is made up ofrepresentatives of state government, industryrisk managers, FEMA, and the US Military.There are Senior Fellows which are expertsfrom the recovery industry. The staff is madeup of individuals on campus at LSU. Theresearch affiliates are all members of LSU staff.The graduate students come from variousbackgrounds including public administration andcommunications.AUGUST 29, 2012Following is a list of examples that are illustrativeof alliances. Duplication of any one group is notsuggested nor implied. The type of product,resources and structure would be suggested bythe proposing institution.They also list other schools that they partner withsuch as LSU, Mississippi State, UNC Charlotte,Massey University, New Zealand etc.AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONAppendix: Collaborative Examples
13LSU’s center is a bit different. They havethe “Command College” which is to trainemergency management professionals, theDisaster Lab, which is a command center fordisaster operations, and Small Business DisasterPreparedness which helps small businesseswith continuity planning. The effort is more onoutreach than on research.Florida Catastrophic Storm RiskManagement Center (Florida StateUniversity)AFFORDABLE HOMEOWNERS INSURANCE COMMISSIONThe center has an advisory council that overseesthe strategic direction of the center. Themajority of the council is made up of industryprofessionals both in the insurance industryand risk management for major employers. Forexample, the Vice President of Risk Managementfor The Walt Disney Company is also on thecouncil. The members of the council are found allover the state from Miami to Tampa to Orlando toTallahassee. Academia is represented in the caseof FIU and the Chief Operating Officer of theFlorida Hurricane Catastrophe Fund (FHCF) forthe State Board of Administration represents theinterests of the citizens. The primary researchersare from Florida State but individuals from FloridaA&M, the University of Florida, and FloridaAtlantic University are also represented.AUGUST 29, 2012http://www.stormrisk.org
14REPORT OF THE MITIGATIONSUBCOMMITTEESubmitted by Subcommittee Members:Joe Ruffer, ChairGregg ArmstrongJoe DemosDarius FosterCarl SchneiderK. Carl SmithJulie Magee (ex-officio)Jim Ridling (ex-officio)Tim Russell (ex-officio)Joe Ruffer, ChairAFFORDABLE HOMEOWNERS INSURANCE COMMISSIONAUGUST 29, 2012Aubury Fuller
15OverviewPart I - Existing HomesThis report is in two parts - Part I coversexisting homes, and Part II covers future homeconstruction. Each part has a general section,as well as sections on Education, Regulation,Statutory, Funding and Mitigation. This is beingdone in order to provide input to those respectivecommittees. The topics covered are from theMarch 20 and 26, 2012, “Topic Specific” reportscompiled by Auburn University and from a reportentitled, “A Roadmap to Resilience,” compiledby the Coastal Recovery Commission and dated2010. B. Needed to lower insurance premiums byreducing potential damage EducationEducate consumers and other stakeholdersabout potential insurance cost savings andreturn on investment that can come fromfortifying and retrofitting their homes andparticularly benefits gained from openingprotection of windows and watertight roofsystemsAppendix A - Effects that mitigation featurescan have toward reducing losses that canoccur due to storms RegulatoryA. Encourage accurate
Michelle Kurtz – Consumer/Homeowners Hurricane Insurance Initiative Steve Simkins – State Farm Wayne Parker – Independent Agent Elizabeth Huntley – Consumer/Attorney Sid Belcher – ALFA Tom Malone – Consumer Jim Higdon – Consumer Joe Ruffer – Engineer, Mobile City/County . J. Gary Ellis, Chair. AFFORDABLE HOMEOWNERS INSURANCE .
4 Homeowners Insurance Homeowners basics Homeowners insurance protects you from the unexpected burden of paying to rebuild your home should disaster strike. It also helps pay: Speak up Take time to go over the details of your policy with your agent. If you think you need more coverage, tell your agent. Compare prices of homeowners insurance from
Your Guide to Homeowners Insurance – For Michigan Consumers Page 7 choose not to purchase homeowners insurance, but you will be assuming all the risk to replace your home and possessions if they are damaged. Types of Policies . The main types of homeowners insurance are: Broad (HO-2) co
of Insurance (TDI), the Texas Legislature may consider changes to homeowners insurance regulation during the 2011 regular legislative session. The amount Texans pay for homeowners insurance is estimated to be between 52 and 76 percent more than the national average, depending on the type of policy forms being compared.
Whether you live on a farm, or own or rent an apartment, condominium, home or mobile home, your home and its contents are probably your largest and most important investment . A homeowners policy will help you protect your investment . There are different types of homeowners policies available to fit your housing situation . TYPES OF HOMEOWNERS
Achieving Quality, Affordable Health Insurance for All New Yorkers: An Analysis of Reform Options Author: New York State Department of Health Subject: Achieving Quality, Affordable Health Insurance for All New Yorkers: An Analysis of Reform Options Keywords: affordable insurance; health care reforms Created Date: 7/17/2009 10:56:08 AM
Types of Homeowners Insurance Policies Basic Policy Form - Covers your home and personal property, but only if damage or loss is caused by fire, smoke, wind, hail, lightning, explosion, vehicles, civil unrest, theft or vandalism. This policy is sometimes called the HO-1 policy form. It is the most basic homeowners insurance coverage and costs
Affordable Care Act - insurance comparison, cheapest insurance, cheap health insurance NJ, cheapest insurance company Priority One High Volume - Washington state health insurance plans, affordable health insurance The best performing ad copy included those that made specific reference to finding "health insurance" for
2 Korean Language Korean is an agglutinative language in which “words typically contain a linear sequence of MORPHS ” (Crystal, 2008). Words in Korean (eojeols), there-fore, can be formed by joining content and func-tional morphemes to indicate such meaning. These eojeols can be interpreted as the basic segmenta-tion unit and they are separated by a blank space in the Korean sentence. Let .
