A mandate prescribed by the Biggert-Waters Flood Insurance Reform law is a major challenge for a federal weather agency, an executive of NOAA revealed at an insurance conference recently.
Executive Summary
Resource limitations are challenging a federal weather agency charged with an insurance-related mandate by the Biggert-Waters Flood Insurance Reform law, according to a NOAA executive, who also admonished cat modelers about storm surge analyses at an industry conference.Edward Johnson, director of strategic planning and policy for the National Weather Service division of the National Oceanic and Atmospheric Administration, outlined the requirement that charges NOAA with sorting out wind from water damage for slab claims, and highlighted the agency’s resource limitations.
Speaking at the Extreme Weather Insurance Risk Management Conference in New York City, Johnson referred to the Consumer Option for an Alternative System to Allocate Losses (or COASTAL) Act, which was signed into law on July 6, 2012 as part of the larger Biggert-Waters flood insurance program reform law.
