Abstract

ABSTRACT:

Hurricane Andrew revealed inadequate construction practices were utilized in Florida for decades. In response, Florida adopted a new statewide code—the 2001 Florida Building Code (FBC)—which became one of the strictest in the nation. We use 10 years of paid insured loss data to show that the FBC reduced windstorm losses by up to 72%, then use our results to conduct a benefit-cost analysis (BCA). The FBC passes the BCA by a margin of $6 in full reduced loss to $1 of added cost, with a payback period of approximately 8 years.

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Additional Information

ISSN
1543-8325
Print ISSN
0023-7639
Pages
pp. 155-174
Launched on MUSE
2018-04-17
Open Access
No
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