Tying Flood Insurance to Flood Risk for Low-Lying Structures in the Floodplain (2015) / Chapter Skim
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Appendix B: Glossary
Appendix B: Glossary
Pages 69-72
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From page 69... ...
estimates losses from natural or manmade hazards, such as earthquakes, floods, hurricanes, and acts of terrorism Detailed studies -- Flood hazard mapping studies (Grossi and Kunreuther, 2005) that are done use hydrologic and hydraulic methods that produce base flood elevations, floodways, and Credibility weighting -- A statistical analysis that com- other pertinent flood data (https://www.fema.gov/pdf/ bines theoretical damage with observed damage results.
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From page 70... ...
-- The official policies that results in aggregate premiums sufficient to map of a community prepared by FEMA that shows pay anticipated losses and expenses for that group; also the Special Flood Hazard Areas, the base flood ele referred to as an actuarial rate (http://www.fema.gov/ vations, and the flood risk zones applicable to the national-flood-insurance-program/definitions) community.
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From page 71... ...
PELV -- A term in the NFIP actuarial rate formula that estimates the annual probability that flood waters will Zone -- A geographical area shown on a Flood Hazard reach or exceed a given depth relative to the base flood Boundary Map or a Flood Insurance Rate Map that reelevation (FEMA, 2013d) flects the severity or type of flooding in the area (http:// www.fema.gov/national-flood-insurance-program/ Performance -- The effectiveness of flood or floodplain definitions)
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