La. Admin. Code tit. 37 § XIII-18202

Current through Register Vol. 50, No. 6, June 20, 2024

Section XIII-18202 - Definitions

A. As used in Regulation 126, the following terms shall have the meanings herein specified.

1.Evaluator-an independent third party certified by the Insurance Institute for Business and Home Safety (IBHS) as a fortified evaluator for hurricane and high wind and hail who can verify that a home meets the fortified roofing construction standard. Homeowners can find a list of certified evaluators at www.ldi.la.gov/fortifyhomes.

2.Insurance Institute for Business and Home Safety (IBHS)-a non-profit research and communications organization of the property and casualty insurance industry that defines the FORTIFIED roofing construction standard for homes, information for which can be found at www.fortifiedhome.org.

3.Louisiana Fortify Homes Program (LFHP)-a program, enacted by Act No. 554 of the 2022 Regular Session, to be administered by the Louisiana Department of Insurance through its Office of Policy, Innovation and Research, to make financial grants to retrofit roofs of insurable property, as defined in R.S. 22:1483(C)(9), with a homestead exemption, to resist loss due to hurricane, tornado, or other catastrophic windstorm events and to meet or exceed the fortified roof standard of the Insurance Institute for Business and Home Safety, information for which can be found at www.ldi.la.gov/fortifyhomes.

4.National Flood Insurance Program (NFIP)-a program enacted by the National Flood Insurance Act of 1968 (P.L. 90-448), which the Federal Emergency Management Agency (FEMA) administers, through its Federal Insurance and Mitigation Administration (FIMA) division, to provide an insurance alternative to disaster assistance to meet the escalating costs of repair damage to buildings and their contents caused by floods. The NFIP designates flood zones and flood maps, which illustrate a community's flood risk, information for which can be found at www.floodsmart.gov.

La. Admin. Code tit. 37, § XIII-18202

Promulgated by the Department of Insurance, Office of the Commissioner, LR 49699 (4/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S.22:11 and R.S. 22:1483.1(A).