|
January 30, 2008
Wellington
Improves Federal Insurance Ratings
The
Village of Wellington Community Services Department,
specifically the Building Division, is proud to announce the
results of recent evaluations of its building code enforcement
processes. Due to the efforts of Division staff, the new
ratings achieved during these evaluations may provide reduced
premiums for flood and hazard insurance policy holders within
the Village.
Two
separate evaluations were conducted within the last three
months: (1) a January 2008 evaluation for compliance with
Community Rating System (CRS) standards associated with the
federal National Flood Insurance Program (NFIP) administered by
the Federal Emergency Management Agency (FEMA): and (2) a
November 2007 evaluation of enforcement of building codes for
commercial and residential structures conducted by the Insurance
Service Office (ISO).
Every
five years, the Building Division of the Village of Wellington
must provide detailed information to FEMA regarding its
floodplain management practices within the Village. This
information is evaluated to establish the Village’s CRS rating.
In January 2008, the 5 year review cycle occurred once again and
Division staff met with a representative from FEMA. Information
was provided regarding activities conducted by the Building
Division and the Engineering & Environmental Services
Department. The Village’s Geographical Information Services
office also assisted with the provision of data needed for the
ratings evaluation.
Previously the Village had a CRS rating of 9 providing Village
residents a 5% reduction of their premiums for mandatory flood
insurance policies. Village staff was successful in achieving
the maximum allowable points for the 5 year cycle review, and
has achieved a rating of 7. The new rating will now give
Village residents a 15% reduction of their premiums for
mandatory flood insurance policies. The new rates are effective
October 1, 2008.
The
Building Division was also reviewed by ISO to rate the
efficiency of the department in both the commercial and
residential building code enforcement effectiveness. ISO files
advisory rating programs, which include rating credits for
commercial fire and allied lines, business owners, homeowners,
and dwelling lines of insurance. This information is provided
to insurance companies through the Building Code Effectiveness
Grading Schedule. Classification ratings are on a scale of 1
to 10, with 1 being exemplary and 10 being the worst.
Classifications of 1-3 will receive the highest credit and a
classification of 10 will receive no credit. The Village
previously had a rating of 3 for commercial and 3 for
residential and the division has now achieved ratings of 2 and 3
for commercial and residential construction respectively. The
new ratings may provide homeowners and business owners in the
Village with a reduction in insurance premiums. Village policy
holders are encouraged to contact their insurance companies
about the new ratings awarded by ISO.
Mayor
Tom Wenham, Vice-Mayor Bob Margolis along with Council Members
Lizbeth Benacquisto, Laurie Cohen, and Dr. Carmine Priore, are
pleased to bring exciting and innovative programs to the
Village, always looking for ways to improve services for all its
residents. For information on Village programs, events and
activities, please visit the website at
www.ci.wellington.fl.us or watch Channel 18 for the latest
Village happenings.
Click here to view ad
Back |
