Private insurers may expand role in federal flood program

The program is currently set to expire at the end of May under. of Mutual Insurance Companies. There was also support from insurance and real estate agents for requiring lenders to accept private.

A.M. Best: 'Benefits to Be Gained' From Flood Insurance. – "A.M. Best believes there are benefits to be gained from a legitimate expansion of the current flood insurance market, allowing private insurers to freely underwrite and price flood risks in accordance with their underwriting standards," the ratings outfit said in its May 24 special report on the matter.

Intended to reduce federal disaster payouts, the program has actually promoted development in flood. imminent increase, which will phase in over several years. To abandon reforms means saddling.

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The bipartisan agreement among the House lawmakers covers a range of topics, including expanding the role of private flood insurers, getting the federal programme to buy more reinsurance on the.

While Congress works on various reforms to the National flood insurance program (nfip), the time is ripe for the private insurance market to step up and play a greater role in providing. narrative.

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