Only the community can determine the pre-damaged value of the property. There have been a low number of claims so far, but we are anticipating more soon as a result of last Fall's flooding here in Texas and elsewhere from Hurricane Georges. We are closely monitoring our experience with ICC and will make any necessary adjustments as we gain more experience. ICC can complement other resources, for instance, by providing a portion of the non-Federal cost share for mitigation grants. Policyholders will be allowed to assign ICC claim payments over to the State, County or other public body.
Education needs to continue.
You all can help by getting the word out on what ICC is and the need for communities to carry out their important role in making substantial damage determinations. The three pillars of the National Flood Insurance Program involve many different stakeholders and touches so many lives. Through Project Impact, we are working to help make the Nation disaster resistant, focusing on individual communities. This National effort shifts the focus of emergency management from responding to disasters to implementing disaster reduction measures. It encourages communities to form partnerships to identify natural hazards, assess what risks they pose, and prepare for them before they strike.