3.0.0 3672 2023-01-11T13:21:42Z 2023-01-11T13:21:42Z Senate S S 2010-07-29 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2010-07-29T20:05:38Z 2010-07-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2010-07-29 Introduced in Senate IntroReferral 10000 9 Library of Congress W000437 Sen. Wicker, Roger F. [R-MS] Roger Wicker R MS F. N Emergency Management Alternative dispute resolution, mediation, arbitration Disaster relief and insurance Floods and storm protection Emergency Management 00 2010-07-29 Introduced in Senate 2010-10-15T19:50:16Z Coordination of Wind and Flood Perils Act of 2010 - Amends the National Flood Insurance Act of 1968 to direct the Administrator of Federal Emergency Management Agency (FEMA) and any insurer (including a state-run windpool), in the event of loss resulting from physical damage to real property or personal property arising from the combined perils of flood and wind, to enter into good faith negotiations regarding: (1) payment and adjustment of proven claims for multiperil losses; and (2) the allocation of such payments among the insurer, the Administrator, and the insured.

Directs the Administrator to pay 50% percent of the disputed claim until it can be settled, if the Administrator and the insurer cannot agree as to the specific distribution of perils that resulted in a loss.

Requires such good faith negotiations to require that: (1) in order to fully compensate the insured for losses as soon as practicable, the insurer against wind peril shall pay 50% of any disputed claim until the claim can be settled; and (2) if an insurer against wind peril and the Administrator fail to agree regarding multiperil losses, then each shall agree to have any dispute resolved by the arbitration panel established under this Act.

Directs the Administrator to establish an arbitration panel to resolve disputes relating to multiperil losses between the Administrator and an insurer against wind peril.

]]> Coordination of Wind and Flood Perils Act of 2010 Display Title Coordination of Wind and Flood Perils Act of 2010 Official Title as Introduced A bill to clarify and improve the payment of multiperil insurance claims, and for other purposes. Introduced in Senate IS Short Titles as Introduced Coordination of Wind and Flood Perils Act of 2010 Introduced in Senate 2010-07-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s3672is/xml/BILLS-111s3672is.xml 2010-07-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.