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MS State 11

$61.10

Mississippi Insurance Department Comprehensive Hurricane Damage Mitigation Program – Cost and Benefit Study Final Version February 2010

Published By Publication Date Number of Pages
MS N/A 127
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PDF Catalog

PDF Pages PDF Title
8 List of Figures
9 List of Tables
10 Executive Summary
Feature Identification
12 Building Stock Distribution
Insurance Benefits Analysis
13 Feature Costs
14 Launching a Public Program Encouraging Mitigation
15 Reliances, Limitations, and Questions
17 Introduction
Background
The Enabling Law
The Request for Proposals and AIR’s Response and Role
19 Report Organization
20 Reliances and Limitations
Data Sets
Simulation Tools and Scientific Assumptions
21 Results
Scalability
Distribution, Use, and Reliance on Study
Identification of Features
22 AIR’s Hurricane Model and Architecture
Rationale for Modeling Catastrophic Events
Basic Model Architecture
23 Hazard: Hurricane Simulation
26 Hazard: Local Intensity
28 Vulnerability: Damage Functions
29 Financial: Aggregating Losses
Interpreting Model Output
31 Scientific Basis of Hurricane Wind Model
33 Damage Calculations for Hurricane Wind
34 Component-Based Approach
37 Damage Functions at the Coverage Level
Modeling Damage due to Wind Duration
38 AIR’s Individual Risk Model
41 How the IRM Operates on Building Features
43 Individual Risk Model Validation
44 How Exposure Data is Introduced to the Model
45 Choosing Relevant Features for Mitigation Analysis
46 Feature Definitions and Descriptions – Residential
Roof Geometry
47 Roof Covering and Attachments
48 Roof Deck and Attachments
Roof Anchorage
49 Window Protection
50 Secondary Water Protection
Garage Doors
Pool Enclosures
51 Feature Definitions and Descriptions – Commercial
Low-, Mid-, and High-Rise Structures
Mid- and High-rise Feature Definitions and Descriptions
Roof Deck
52 Secondary Water Protection
Opening Protection
Glass Percent
Wall Siding
Glass Type
53 Role of Building Codes and IRC 2003 Adoption in Developing Modeled Benefits
54 Importance of Strong Enforcement of Effective Building Codes
55 Impact of Year Built on Building Vulnerability
56 Other Common or Mississippi-Specific Mitigation Construction Measures
Institute for Business and Home Safety (IBHS) “Fortified…for safer living®” Program
57 Mississippi Windstorm Underwriting Association Mitigation Packages
58 Assembly of Exposure and Claims Data
AIR Industry-wide Exposure Database
Augmentation of Exposure Data with Original Local Databases
59 Building Inventory Survey
61 Survey Design
62 Results and Discussion
65 Mississippi Windstorm Underwriting Association
67 Xactware Cost Databases
Modeling of Insurance Benefits
Modeled Structures
Notional Portfolio Concept
68 Attributes of Hypothetical Risks
Geographic Location
69 AIR Construction Types
70 Model Version and Adjustments
Actuarial Approach
Insurance Assumptions
71 Analysis Assumptions
Choice of Reference Structures
72 Loss Costs and Relative Loss Costs
Development of Loss Relativities
Non-Linearity of Relativities
73 Results of Insurance Benefits Analysis
Residential “Existing” Construction
77 How to Apply Benefits Analysis as Mitigation Credits/Debits: Worked Example
81 Residential “New” Construction
84 Commercial low-rise construction
85 Commercial mid- and high-rise construction
88 Consideration of Feature Costs
Cost Data Sources
89 Residential Feature Cost Calculations
92 Limitations on Feature Cost Analysis
Synthesizing Costs and Benefits to Determine Best Mitigation Actions
Conversion of Relativities to Estimated Dollar Loss Benefits Over Time
93 Cost-Benefit Analysis of Actionable Mitigation “Packages” of Retrofits
98 Scoping the Program: Implementation of Study Results
Actuarial and Insurance Product Considerations
Alignment with Existing Book of Business
101 Transition Plans and Swing Limits
102 Uncertainty and Using Ranges of Rating Factors
103 Phasing in Mitigation Rating Factors Over Time
Administering a Public Loss Mitigation Program
Administrative Structure and Governance
104 Advisory Council
Encouraging Public Access to the Program
105 Partnering with Existing Public Agencies
Partnering with Private and Nonprofit Agencies
106 Management Performance Indicators
Consumer and Public Outreach
108 Brochures
109 Messaging
110 Pilot Programs
111 A Suggested Pilot Program: 10 Neighborhoods in 10 Weeks Campaign
Additional Benefits of the Pilot Program
Questions and Answers from the Public
112 Funding Opportunities
113 Existing Federal Funding
Pre-Disaster Mitigation (PDM)
State Housing Initiatives Partnership (SHIP)
Optimizing Grants
114 Fraud Detection
115 Inspections
116 Inspectors as Ambassadors
117 Fraud Detection
118 Inspection Information for Homeowners
120 Appendices
Appendix 1: Enabling Statute
123 Appendix 2: Example Design Calculations for roof-to-wall connection and roof deck nailing pattern
127 About AIR Worldwide Corporation
MS State 11
$61.10