On Monday evening , June 20, 2016 Congressman David Jolly, Jake Holehouse from Regions Insurance and David Altmaier, newly appointed Florida Insurance Commissioner, addressed the residents of VI and Shore Acres.
Congressman Jolly gave a federal update regarding FEMA.
FEMA is remapping for a modern map vs risk. This program might take several more years to finish.
FEMA has at least 20 billion in debt owed to the US Treasury because of disasters like Katrina and Sandy.
FEMA has now agreed to release some property information but, it involves a single request by fax. This is a step in the right direction since in the past other insurers could not obtain any property information to assess underwriting risks.
There is a bill to allow a homeowner to go out of the National Flood Program to a private insurer and back again if necessary.
Congressman Jolly has sponsored a bill , Natural Disaster Reinsurance Act of 2016. "This bill directs the Department of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise it regarding estimated loss costs associated with contracts for reinsurance coverage.
Treasury may make homeowners protection coverage available through contracts for reinsurance coverage. Only eligible state programs may purchase such coverage.
Each contract for reinsurance coverage shall furnish insurance coverage against residential property losses to homes, including condominium and cooperative ownership, and the contents of apartment buildings.
The bill prescribes a minimum level of retained losses and maximum federal liability.
Any insurer who participates in an eligible state program may establish a Catastrophe Capital Reserve Fund to hold funds on Treasury's behalf to offset reinsurance claims.
The bill establishes the Consumer Hurricane, Earthquake, Loss Protection (HELP) Fund to: (1) make payments to covered purchasers under contracts for reinsurance coverage for eligible losses, and (2) pay for Commission operating costs and reinsurance program administrative expenses."
The general consensus is that with more data available to other insurance companies, there will be more options and lower costs for the homeowner.
David Altmaier told us there are eight private companies writing flood insurance.
This is the report that has been done for the city regarding all the seawalls within Venetian Isles.
Water should be back on around 7pm.
Crews were out all day today.
They are rerouting the water line so that after today, all homeowners will continue to have water while they work on the seawall.
They also accomplished the following:
Dug up the buried cable and power lines.
The street light was removed.
Dug up enough space between the curb and sidewalk to put in the metal sheeting tomorrow afternoon.
Update to the process:
The sheeting will only be to prop up the road so it doesn't collapse.
There will not be any sheeting on the seawall as the seawall needs to come out.
Fill in and rebrick the cave ins that have reopened this week along Hawaii Ave.
Remove the floating corrugated post at the canal alongside Carolina Ave.
Yesterday, we reported the failing seawall on Mass Ave. to the city of St Pete engineers and Department of Stormwater.
The head of Stormwater, John Norris, told us in the afternoon that they would have to prioritize all the damage that had occurred due to TS Colin.
Today, that seawall has all but caved in and everyone from the city has been out here.
Phil Keyes, city engineer and John called on All American/Speeler to come out as well. There is a city sewer contract in place that can be used to "sheet" the seawall by All American.
We have met with the gentlemen from All American. Their suggestion will be to use a crane from the street side to shore up the front of the seawall. This will buy time until Reuben Clarson can review and a new seawall put up.
This entire area is a hazard as there is a water main that runs through there as well as other utilities. There is a possibility that the street and entire sidewalk could cave in if the water line ruptures.
We spoke with Phil again and he has requested that the Stormwater Dept come back out here and put the barricades on Grand Canal and the south side of Mass. blocking the use of that side of the street.
Phil said he would keep us abreast of the schedule.
Also, pictures of the damage along Hawaii Ave and have been sent as well.
The repair work that was completed recently along the reclaimed water box and bricks at this site has also reopened. There is also a gap where the two seawalls meet as well as a reopening of a cave in near the seawall.
On June 20, 2016, there will be a special meeting of the VIHA Board of Directors at 6:15pm at the Lutheran Church of the Cross. The purpose of this meeting will be to nominate, discuss and elect a person to fill the currently open position of Vice President on the VIHA Board.”