Elevation Certificate Errors Cause Unnecessary Problems for Agents & Brokers

Market Wire, August, 2008

Given the critical relationship between elevation certificates and flood insurance rates, according to regulatory experts, an alarmingly high percentage of elevation certificates contain errors and omissions. Premier Elevation Certificate Network, Inc. (PECN), a national elevation certificate coordinating service, advises insurance agents and brokers to be keenly aware of the errors that can cause liability and policy mis-rating.

The National Flood Insurance Program (NFIP) requires an elevation certificate to certify the elevation and other characteristics of a building to determine the proper flood insurance rate. An inaccurate elevation certificate results in a property owner paying too much or too little for flood coverage; or choosing to forego coverage when they need it. Insurance agents and brokers need accurate data to make good recommendations and to write good flood policies, which protect them from liability.

Common elevation certificate errors include substandard pictures that don't meet the Federal Emergency Management Agency (FEMA) specifications; incorrect building diagram number; incorrect flood map reference; incorrect flood zone and Base Flood Elevation (BFE); failure to perform required datum conversion on building elevations.

"These are just five of more than 15 common errors that are surprising in nature and, often, the result of carelessness, lack of attention to detail, an inability to read and follow FEMA's elevation certificate instruction manual, and failure to attend FEMA's recommended training courses," states Dan Freudenthal, president of PECN. He continues, "As FEMA proceeds to update more than 80,000 flood map panels in communities throughout the country, I encourage insurance agents and brokers to avoid these errors by knowing how to identify them and by hiring qualified surveying professionals ."

For PECN's list of common elevation certificate errors, email: gobrien@premierelevationcertificates.com

About PECN

Premier Elevation Certificate Network, Inc. is a national firm specializing in the coordination of elevation certificates for insurance agents and brokers, risk managers, commercial property owners and condominium associations. For more information, visit the company's web site: www.premierelevationcertificates.com .

Contact: Gay O'Brien 561.253-9010, Extension 119 Email Contact