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| [[User:WikiAdmin/2024-11]] | | [[User:WikiAdmin/2024-11]] |
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| ===== U1111 Learning Objectives: =====
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| # '''Watch Wiki Video''' The trainee will watch a video about the navigation elements, page layout, search, and curriculum arrangement in the Wiki.
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| == Key Sections of "How to Write" Chapter in the 2024 NFIP Flood Insurance Manual ==
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| === Introduction to NFIP Rating Methodology ===
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| * '''Overview''': The NFIP's rating approach focuses on individualized risk assessment using advanced modeling tools.
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| * '''Importance''': Enables FEMA to set rates based on a property’s unique risk, improving rate accuracy and community flood risk awareness.
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| === Process for Writing New Business ===
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| * '''Overview''': Details high-level steps in policy issuance: agent's role, FEMA's validation, and final issuance.
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| * '''Importance''': Clarifies stakeholder roles to improve compliance and policy issuance efficiency.
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| === General Rating Information ===
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| * '''Overview''': Covers required information (policyholder, mortgagee, location) and impact on rates.
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| * '''Importance''': Accurate data ensures precise rates, eligibility validation, and FEMA compliance.
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| === Condominium Rating Information ===
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| * '''Overview''': Rating specifics for condominiums based on ownership and use.
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| * '''Importance''': Ensures correct coverage and premium calculation given unique condo ownership structures.
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| === Provisional Rating Information ===
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| * '''Overview''': Guidelines for using provisional rates when FEMA’s system is unavailable.
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| * '''Importance''': Allows continuity in policy issuance, preventing coverage delays due to technical issues.
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| === Community Rating System (CRS) Discount ===
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| * '''Overview''': CRS discounts communities exceeding minimum floodplain management.
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| * '''Importance''': Encourages community-wide flood mitigation through premium reductions.
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| === Structural Variables ===
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| * '''Overview''': Factors like building type, construction, and foundation that influence premiums.
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| * '''Importance''': Ensures fair premiums that reflect flood risk for high-risk buildings.
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| === Mitigation Discounts ===
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| * '''Overview''': Discounts for measures such as elevated machinery or flood openings.
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| * '''Importance''': Encourages flood-resistant measures, lowering premiums and reducing claims.
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