Acronyms
AAMGA
American Association of Managing General Agents
Three nails driven at an angle through the rafter and into the top roof.
“Toe Nails”
A flat charge on each new or renewal policy to defray the expenses of the Federal Government related to flood insurance
Expense Constant
The current Chief Financial Officer
Jimmy Patronis
The ISO coverage form used to insure mobile homes when a stand-alone policy is used
HO7
WYO
Write Your Own
A roof that has two slopes that come together to form a ridge or a peak – each end looks like the letter “A”
Gable
The number of days that personal property that has been moved to a temporary location is insured for
45 days
A mobile home policy (HO7) is comparable to an HO3 but coverage is provided for the mobile home structure on an “all-risk” basis (risk of direct physical loss) and on what basis for the contents?
“All-risk” basis or risk of direct physical loss. The HO3 provides content coverage on a “Named Peril” basis
TIV
Total Insurable Value
Homes built under this building code are eligible for a minimum 68% discount on the hurricane-wind portion of the premium
The 2001 Florida Building Code or later edition (also including the 1994 South Florida Building Code for homes in Miami-Dade and Broward Counties).
The maximum building and contents coverage available through the NFIP for non-residential property
$500,000/$500,000
Office that ensures that insurance companies licensed to do business in Florida are financially viable, operating within the laws and regulations governing the industry, and offering insurance policy products at fair and adequate rates
Office of Insurance Regulation (“OIR”)
This endorsement is needed for coverage while the mobile home is being delivered or moved and adds the perils of collision, upset, stranding and sinking.
Transportation/permission to move (MH 04 03)
HIPPA
Health Insurance Portability and Accountability
The “ideal” roof geometry (shape of the roof) for Wind Mitigation Credits
Hip
The 2014 federal legislation that repealed certain parts of Biggert-Waters, restored grandfathering, and put limits on certain rate increases
Homeowner Flood Insurance Affordability Act of 2014
The office that has three divisions (Financial Institutions, Consumer Finance, and Securities) and one bureau (Financial Investigations) that oversee and regulate a wide-range of financial enterprises and individuals,
Office of Financial Regulation (“OFR”)
The default for Coverage C (Contents) in a mobile home policy issued by Citizens as a percentage of Coverage A
25%
SWR
Secondary Water Resistance (also called Sealed Roof Deck)
Size of nails and spacing required for roof sheathing installation
8d, every six inches
The flood coverages that do not have a deductible
Loss Avoidance Measures and Increased Cost of Compliance.
The office that represents the interest of the public and has the authority to intervene before any forum in matters that arise under the jurisdiction of either DFS or OIR.
Office of the Insurance Consumer Advocate
Type of coverage required by the Department of Financial Service for homeowners’ policies but that is not required for mobile home policies?
Ordinance or Law