Mitigation Forms Revision Workshop Yields Extensive Discussion
Aug 21, 2009
Proposed revisions to two statutory forms related to insurance credit for property mitigation were reviewed at a two-hour workshop held on August 18, 2009 by the Florida Office of Insurance Regulation (“OIR”). To view the meeting notice, click here.
Form OIR-B1-1655 is used by insurers to provide policyholders information about available windstorm mitigation discounts.
Form OIR-B1-1802 is used by home inspectors to verify the presence of windstorm-mitigation features on a policyholder’s property so an insurer can calculate appropriate discounts.
Because the free inspections and mitigation grants previously provided by the My Safe Florida Home program are no longer available, proposed revisions to Form OIR-B1-1655 would remove corresponding references.
Revisions to Form OIR-B1-1802 are proposed that would include terminology commonly used by the building industry to describe construction features to be inspected. The revised version of the Form also would require an inspector and homeowner to verify that the inspector actually conducted the inspection.
Both Forms were most recently revised in 2007. A draft copy of the newly-revised form OIR-B1-1802 is attached for review.
Interested parties attending the Workshop who testified about the two Forms included engineers, contractors, property inspectors and insurance industry representatives.
OIR Deputy Director of Rates and Forms Michael Milnes presided over the Workshop.
The discussion focused on whom should be authorized or required to sign the Form. Advantages and disadvantages of whether certain professionals should sign the Form were debated. Many who testified pointed out that requiring multiple signatures by inspectors and supervising engineers may be a deterrent for fraudulent or inaccurate Form submissions.
Insurance industry representatives requested that the Form include a disclaimer stating that it must be totally completed in order to be eligible for discounts, and that a property’s address should be included on each page. Some speakers asserted that electronic submission of the Form could reduce related fraud.
An additional suggestion was made that an insured should sign a statement that the most recent version of the Form is being submitted.
OIR officials indicated that all comments would be considered. The OIR plans to keep the record open for written comments until Friday, August 28, 2009.
Should you wish to submit comments, please forward them to Katie Webb at kwebb@cftlaw.com no later than August 26.
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