Severe repetitive loss building

Term · Insurance and risk management · MLC-T-INS-000215

1. Any building that:
• Is covered under a Standard Flood Insurance Policy made available under this title;
• Has incurred flood damage for which:
a. 4 or more separate claim payments have been made under a Standard Flood Insurance Policy issued pursuant to this title, with the amount of each such claim exceeding $5,000, and with the cumulative amount of such claims payments exceeding $20,000; or
b. At least 2 separate claims payments have been made under a Standard Flood Insurance Policy, with the cumulative amount of such claim payments exceed the fair market value of the insured building on the day before each loss.

2. Any building that:
1. Is covered under a Standard Flood Insurance Policy made available under this title;
2. Has incurred flood damage for which:
a. 4 or more separate claim payments have been made under a Standard Flood Insurance Policy issued pursuant to this title, with the amount of each such claim exceeding $5,000, and with the cumulative amount of such claims payments exceeding $20,000; or
b. At least 2 separate claims payments have been made under a Standard Flood Insurance Policy, with the cumulative amount of such claim payments exceed the fair market value of the insured building on the day before each loss.

Table 1. Record
Identifier	MLC-T-INS-000215
Field	Insurance and risk management
Subject	National Flood Insurance Program
References	FloodSmart Flood Insurance Glossary; FEMA Glossary

Record as JSON

{
  "id": "MLC-T-INS-000215",
  "term": "Severe repetitive loss building",
  "field": "Insurance and risk management",
  "term_source": "Severe Repetitive Loss Building",
  "definition": "1. Any building that:\n• Is covered under a Standard Flood Insurance Policy made available under this title;\n• Has incurred flood damage for which:\na. 4 or more separate claim payments have been made under a Standard Flood Insurance Policy issued pursuant to this title, with the amount of each such claim exceeding $5,000, and with the cumulative amount of such claims payments exceeding $20,000; or\nb. At least 2 separate claims payments have been made under a Standard Flood Insurance Policy, with the cumulative amount of such claim payments exceed the fair market value of the insured building on the day before each loss.\n\n2. Any building that:\n1. Is covered under a Standard Flood Insurance Policy made available under this title;\n2. Has incurred flood damage for which:\na. 4 or more separate claim payments have been made under a Standard Flood Insurance Policy issued pursuant to this title, with the amount of each such claim exceeding $5,000, and with the cumulative amount of such claims payments exceeding $20,000; or\nb. At least 2 separate claims payments have been made under a Standard Flood Insurance Policy, with the cumulative amount of such claim payments exceed the fair market value of the insured building on the day before each loss.",
  "subject": "National Flood Insurance Program",
  "references": [
    "FloodSmart Flood Insurance Glossary",
    "FEMA Glossary"
  ],
  "url": "https://mlchart.com/terminology/insurance/severe-repetitive-loss-building/"
}

Record 3,161 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.