[Code of Federal Regulations]

[Title 44, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 44CFR75.11]



[Page 374-375]

 

              TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE

 

 CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND 

                                SECURITY

 

PART 75_EXEMPTION OF STATE-OWNED PROPERTIES UNDER SELF-INSURANCE PLAN

--Table of Contents

 

                    Subpart B_Standards for Exemption

 

Sec. 75.11  Standards.



    (a) In order to be exempt under this part, the State's self-

insurance plan shall, as a minimum:

    (1) Constitute a formal policy or plan of self-insurance created by 

statute or regulation authorized pursuant to statute.

    (2) Specify that the hazards covered by the self-insurance plan 

expressly include the flood and flood-related hazards which are covered 

under the Standard Flood Insurance Policy.

    (3) Provide coverage to state-owned structures and their contents 

equal to that which would otherwise be available under a Standard Flood 

Insurance Policy.

    (4) Consist of a self-insurance fund, or a commercial policy of 

insurance or reinsurance, for which provision is made in statute or 

regulation and that is funded by periodic premiums or charges allocated 

for state-owned structures and their contents in areas identified by the 

Administrator as A, AO, AH, A1-30, AE, AR, AR/A1-30, AR/AE, AR/AO, AR/

AH, AR/A, A99, M, V, VO, V1-30, VE, and E Zones. The person or persons 

responsible for such self-insurance fund shall report on its status to 

the chief executive authority of the State, or to the legislature, or 

both, not less frequently than annually. The loss experience shall be 

shown for each calendar or fiscal year from inception to current date 

based upon loss and loss adjustment expense incurred during each 

separate calendar or fiscal year compared to the premiums or charges for 

each of the respective calendar or fiscal years. Such incurred losses 

shall be reported in aggregate by cause of loss under a loss coding 

system adequate, as a minimum, to identify and isolate loss caused by 

flood, mudslide (i.e., mudflow) or flood-related erosion. The 

Administrator may, subject to the requirements of paragraph (a)(5) of 

this section, accept and approve in lieu of, and as the reasonable 

equivalent of the self-insurance fund, an enforceable commitment of 

funds by the State, the enforceability of which shall be certified to by 

the State's Attorney General, or other principal legal officer. Such 

funds, or enforceable commitment of funds in amounts not less than the 

limits of coverage that would be applicable under Standard Flood 

Insurance Policies, shall be used by the State for the repair or 

restoration of State-owned structures and their contents damaged as a 

result of flood-related losses occurring in areas identified by the 

Administrator as A, AO, AH, A1-30, AE, AR, AR/A1-30, AR/AE, AR/AO, AR/

AH, AR/A, A99, M, V, VO, V1-30, VE, and E Zones.

    (5) Provide for the maintaining and updating by a designated State 

official or agency not less frequently than annually of an inventory of 

all State-owned structures and their contents within A, AO, AH, A1-30, 

AE, AR, AR/A1-30, AR/AE, AR/AO, AR/AH, AR/A, A99, M, V, VO, V1-30, VE, 

and E zones. The inventory shall:

    (i) Include the location of individual structures;

    (ii) Include an estimate of the current replacement costs of such 

structures and their contents, or of their current economic value; and

    (iii) Include an estimate of the anticipated annual loss due to 

flood damage.

    (6) Provide the flood loss experience for State-owned structures and 

their



[[Page 375]]



contents based upon incurred losses for a period of not less than the 5 

years immediately preceding application for exemption, and certify that 

such historical information shall be maintained and updated.

    (7) Include, pursuant to Sec. 60.12 of this subchapter, a certified 

copy of the flood plain management regulations setting forth standards 

for State-owned properties within A, AO, AH, A1-30, AE, AR, AR/A1-30, 

AR/AE, AR/AO, AR/AH, AR/A, A99, M, V, VO, V1-30, VE, and E Zones.

    (b) The Administrator shall determine the adequacy of the insurance 

provisions whether they be based on available funds, an enforceable 

commitment of funds, commercial insurance, or some combination thereof, 

but has discretion to waive specific requirements under this part.



[41 FR 46991, Oct. 26, 1976. Redesignated at 44 FR 31177, May 31, 1979, 

as amended at 48 FR 44544, Sept. 29, 1983; 49 FR 4751, Feb. 8, 1984; 49 

FR 5621, Feb. 14, 1984; 50 FR 36029, Sept. 4, 1985; 59 FR 53601, Oct. 

25, 1994; 62 FR 55719, Oct. 27, 1997]