In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Coordination of Wind and Flood
Perils Act of 2010''.

SEC. 2. PAYMENT OF MULTIPERIL CLAIMS.

The National Flood Insurance Act of 1968 is amended by inserting
after section 1312 (42 U.S.C. 4019) the following new section:

''SEC. 1312A. PAYMENT OF MULTIPERIL CLAIMS.

''(a) Purposes.--The purposes of this section are--
''(1) to allow an insured individual or small business to
commence repairs or replacement, or both, of insured property
and to recommence business operations as soon as possible after
a natural disaster; and
''(2) to remove the burden of determining flood and wind
loss allocation for the purpose of insurance claims from the
insured and to place such burden on the entities that are
responsible for the payment of such claims.
''(b) Payment of Multiperil Claims.--
''(1) In general.--In the event of an occurrence of loss
resulting from physical damage to or loss of real property or
personal property related thereto located in the United States
arising from the combined perils of flood and wind, the
Administrator and any insurer (including a State-run windpool)
that insures the wind peril shall enter into good faith
negotiations regarding--
''(A) the general method or methods by which proven
claims for such multiperil losses shall be adjusted and
paid; and
''(B) the allocation of such payments between the
insurer, the Administrator, and the insured.
''(2) Limitation.--
''(A) In general.--In the event that the
Administrator and an insurer (including a State-run
windpool) that insures the wind peril cannot agree as
to the specific distribution of perils that resulted in
a loss described under paragraph (1), the Administrator
shall pay 50 percent of the disputed claim until the
claim can be settled.
''(B) Fair share.--The terms of any agreement or
negotiations entered into pursuant to paragraph (1)
shall require that, in order to fully compensate the
insured for his, her, or its loss as soon as
practicable after the occurrence of such loss, an
insurer (including a State-run windpool) that insures
the wind peril pay 50 percent of any disputed claim
until the claim can be settled.
''(C) No overcompensation.--The Administrator and
an insurer (including a State-run windpool) that
insures the wind peril shall work collaboratively to
ensure that an insured policyholder does not receive
payments under this section in excess of the amount of
the insured's actual loss.
''(D) Rule of construction.--Nothing in this
section shall be construed to negate, set aside, or
void any policy limit, including any loss limitation,
set forth in a standard flood insurance policy.
''(c) Failure To Reach Agreement on Loss Allocation.--The terms of
any agreement or negotiations entered into pursuant to subsection
(b)(1) shall require that if an insurer (including a State-run
windpool) that insures the wind peril and the Administrator fail to
reach an agreement regarding multiperil losses pursuant to subsection
(b), including as to the cause or allocation of a multiperil loss, then
each such entity shall agree to have any dispute relating to multiperil
losses resolved by the arbitration panel established under subsection
(d).
''(d) Arbitration Panel.--
''(1) Establishment.--As allowed under section 1307(e) of
the National Flood Insurance Act of 1968 (42 U.S.C. 4104), and
notwithstanding any other provision of law, not later than 90
days after the date of enactment of this Act, the Administrator
of the Federal Emergency Management Agency shall establish an
arbitration panel to efficiently and clearly resolve disputes
relating to multiperil losses between the Administrator and an
insurer (including a State-run windpool) that insures the wind
peril.
''(2) Membership.--The arbitration panel established under
paragraph (1) shall be comprised of 5 members.
''(3) Required qualifications.--
''(A) Administrative law expertise.--At least 1
member of the arbitration panel established under
paragraph (1) shall have expertise in administrative
law.
''(B) Water resources expertise.--At least 1 member
of the arbitration panel established under paragraph
(1) shall have expertise in water resources.
''(C) Hurricane modeling expertise.--At least 1
member of the arbitration panel established under
paragraph (1) shall have expertise in hurricane
modeling.
''(4) No fema employees.--No member of the arbitration
panel established under paragraph (1) may be a current or
former employee of the Federal Emergency Management Agency.
''(5) Independence.--Each member of the arbitration panel
established under paragraph (1) shall be independent and
neutral.''.
A:
Coordination of Wind and Flood Perils Act of 2010 - Amends the National Flood Insurance Act of 1968 to direct the Administrator of Federal Emergency Management Agency (FEMA) and any insurer (including a state-run windpool), in the event of loss resulting from physical damage to real property or personal property arising from the combined perils of flood and wind, to enter into good faith negotiations regarding: (1) payment and adjustment of proven claims for multiperil losses; and (2) the allocation of such payments among the insurer, the Administrator, and the insured.

Directs the Administrator to pay 50% percent of the disputed claim until it can be settled, if the Administrator and the insurer cannot agree as to the specific distribution of perils that resulted in a loss.

Requires such good faith negotiations to require that: (1) in order to fully compensate the insured for losses as soon as practicable, the insurer against wind peril shall pay 50% of any disputed claim until the claim can be settled; and (2) if an insurer against wind peril and the Administrator fail to agree regarding multiperil losses, then each shall agree to have any dispute resolved by the arbitration panel established under this Act.

Directs the Administrator to establish an arbitration panel to resolve disputes relating to multiperil losses between the Administrator and an insurer against wind peril.