Question:
| What is the Repetitive Loss Properties Strategy? |
Answer:
| The primary objective of the Repetitive Loss Properties Strategy is to eliminate or reduce the damage to property and the disruption of life caused by repeated flooding of the same properties. A specific target group of repetitive loss properties is identified and serviced separately from other NFIP policies by the Special Direct Facility (SDF). The target group includes every NFIP-insured property that, since 1978 and regardless of any change(s) of ownership during that period, has experienced: a) Four or more paid flood losses of more than $1,000 each; or b) Two paid flood losses within a 10-year period that, in the aggregate, equal or exceed the current value of the insured property; or c) Three or more paid losses that, in the aggregate, equal or exceed the current value of the insured property. |
Last Updated: 2007-01-08 16:41:39.0
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