I think it is fair to say that, based on the Affordable Care Act and the FEMA flood maps, we need to keep Congress and the Feds out of the insurance business!
The federal government is the only thing that has kept flood insurance as cheap as it is. If you’re concerned about high cost, then you do NOT want private-market flood insurance.
If you’re concerned about fiscal responsibility, then not only do you want actuarial rating (whether by federal or private insurance), but you also want a more conservative approach to be used when mapping flood risk.
I think it is fair to say that, based on the Affordable Care Act and the FEMA flood maps, we need to keep Congress and the Feds out of the insurance business!
The federal government is the only thing that has kept flood insurance as cheap as it is. If you’re concerned about high cost, then you do NOT want private-market flood insurance.
If you’re concerned about fiscal responsibility, then not only do you want actuarial rating (whether by federal or private insurance), but you also want a more conservative approach to be used when mapping flood risk.