Federal Flood Insurance: Upton-jones Amendment
Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment enables the Federal Flood Insurance Program to pay up to 40% of the policy to property owners who relocate structures in imminent danger and up to 110% of the policy to property owners who demolish those structures and remove the debris. A prerequisite for the property owner to receive these funds is for the property structures to be declared uninhabitable by the local permit authority and to be subject to erosion or to be within the geographical boundaries of an erosion zone that has been included in a program approved by the state. Under the Federal Flood Insurance Program, residential structures on the shore can be insured against floods for a maximum amount of $185,000 and $60,000 coverage for contents within the structure.
Popular Insurance Terms
Crime against the state for which an officer of the state can bring legal action. Society is harmed by an individual breaking the laws of the state. Usually there is no statue of ...
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Detailed descriptive list made available to the survivor (s) of the insured showing: attorney, accountant, insurance agent, and location of important documents such as wills, power of ...
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Standard Commercial Property Floater form covering death or damage to livestock as the result of insured perils such as fire, lightning, explosion, smoke, wind, hail, aircraft, earth quake, ...
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Endorsement to the commercial general liability insurance (CGL) policy that provides liability coverage to an insured business for damages anywhere in the world. Policies typically have ...
Account established and administered by a state agency to finance a mandatory insurance program, for example, workers compensation insurance. ...
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