Increased Cost of Compliance (ICC) defintion

All Definitions 56,905 > I 2,398

Increased Cost of Compliance (ICC)

All > Business > Finance > Insurance > Flood Insurance

Coverage for expenses a property owner must incur, above and beyond the cost to repair the physical damage the structure actually sustained from a flooding event, to comply with mitigation requirements of state or local floodplain management ordinances or laws. Acceptable mitigation measures are elevation, flood-proofing, relocation, demolition, or any combination thereof.

Federal Emergency Management Agency (FEMA) - Cite This Source - This Definition

Cite Definition for Increased Cost of Compliance (ICC)

American Psychological Association (APA)

Increased Cost of Compliance (ICC). (n.d.). National Flood Insurance Glossary. Retrieved June 8, 2023, from website: http://www.expertglossary.com/definition/increased-cost-of-compliance-icc.

Chicago Manual of Style (CMS)

Increased Cost of Compliance (ICC). National Flood Insurance Glossary. Federal Emergency Management Agency (FEMA). http://www.expertglossary.com/definition/increased-cost-of-compliance-icc (accessed: June 8, 2023).

Modern Language Association (MLA)

"Increased Cost of Compliance (ICC)." National Flood Insurance Glossary. Federal Emergency Management Agency (FEMA). 8 June. 2023 http://www.expertglossary.com/definition/increased-cost-of-compliance-icc.
Browse Related Terms: Actual cash value (ACV), Elevation Certificate, Federal Policy Fee, Grandfathering, Group Flood Insurance Policy (GFIP), Increased Cost of Compliance (ICC), policy, Post-FIRM Building, Pre-FIRM Building, Preferred Risk Policy (PRP), Probation Surcharge (Premium), Replacement Cost Value (RCV), Standard Flood Insurance Policy (SFIP), Submit-for-Rate, Waiting Period, Wave Height Adjustment, Write Your Own (WYO) Program

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All Definitions 56,905 > I 2,398

Increased Cost of Compliance (ICC)

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