Economic effectiveness of implementing a statewide building code: The case of florida

Kevin M. Simmons; Jeffrey Czajkowski; James M. Done

doi:10.3368/le.94.2.155

Economic effectiveness of implementing a statewide building code: The case of florida

Kevin M. Simmons, Jeffrey Czajkowski, James M. Done

WEXS Weather Extremes Across Scales

Research output: Contribution to journal › Article › peer-review

18 Scopus citations

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.

Original language	English
Pages (from-to)	155-174
Number of pages	20
Journal	Land Economics
Volume	94
Issue number	2
DOIs	https://doi.org/10.3368/le.94.2.155
State	Published - May 1 2018

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10.3368/le.94.2.155

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title = "Economic effectiveness of implementing a statewide building code: The case of florida",

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.",

author = "Simmons, \{Kevin M.\} and Jeffrey Czajkowski and Done, \{James M.\}",

note = "Publisher Copyright: {\textcopyright} 2018 by the Board of Regents of the University of Wisconsin System.",

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N2 - 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.

AB - 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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Economic effectiveness of implementing a statewide building code: The case of florida

Abstract

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