The devastating hurricanes that have ravaged the state of Florida over the past decades left property owners with fewer options for obtaining property insurance for homes and buildings in the Sunshine State. The decline in insurers has come at a steep price tag as the remaining companies have raised rates to better manage future risk. 

While the insurance industry has led the push for strengthening the building codes so that Florida’s building inventory will better withstand the high winds and rainfall that accompanies tropical storm events, the industry has changed the way that buildings are evaluated during the underwriting process. For many homeowners, that meant they were forced to replace code-compliant roofs that were in good condition and well-maintained because of arbitrary procedures enforced by underwriters based solely on the age of the roof. Recent legislation provided some remedy for homeowners who could demonstrate that their roof was in acceptable condition based on a positive report from a state-approved inspector. Questions remain, however, about how multi-family buildings, including low-income apartments, would be treated under the new inspection law.

For the roof coatings industry, it is likely that there will be a substantial market impact in the multi-family sector. The RCMA GAC is exploring options to provide some common-sense options for multi-family building owners who are being told that in order to maintain coverage they will have to remove and replace their roofs just because they hit the 15-year mark. RCMA is consulting with state agencies, industry stakeholders, and other affected parties to help provide a solution that will preserve the marketplace while continuing to protect the interests of property owners and residents in Florida. If you are interested in helping to work on this issue, make sure to join the RCMA GAC.