Some repetitive loss buildings eventually become substantially damaged and thus ICC will have some impact on repetitive loss properties through the substantial damage requirement. ICC is still relatively new. This is the first full year that all policies have included the coverage. While it has been a year of relatively light losses, there are many buildings that appear from claims data to have been substantially damaged. We are not getting the number of claims that we had projected.
Communities play a key role.
Only the communities can enforce their floodplain management ordinances. Few properties will meet both these criteria. We recognize that ICC may not be doing all that it was intended to do. While we must operate within the confines of the existing law, we are closely monitoring our experience and are open to making needed improvements, based upon a thorough review. We look forward to working with the Association as we review our experience and develop ways to improve the Coverage.