Editor's Note: Scott Koedel of Don Meyler Inspections wrote an article for the September 2009 issue of Florida Underwriter entitled "Ensuring the Accuracy of Windstorm Mitigation Credits." In that feature, he noted, "As awareness of the windstorm mitigation inspection has increased, so has the sheer quantity of inspectors performing inspections, which now number in the thousands. This rapid growth has resulted in a widely varying level of quality control processes among inspection companies." He also offered specific recommendations for improving the process. Now, two years later, Koedel revisits the program.
As everyone dealing with the Florida residential and commercial residential windstorm insurance market is aware, an increased level of underwriting scrutiny is presently being focused on the validity and appropriateness of windstorm mitigation credits. This is understandable, as the aggregate value of these credits now registers in the billions of dollars annually.
When they are accurate and warranted, windstorm mitigation credits reward homeowners who have demonstrably addressed the risks that windstorms can pose to their lives and property. Most of us in the industry believe that rewarding this behavior contributes to a healthier and more stable property insurance market in Florida.
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