I hope someone in Congress can step up to the plate and set this program on a pathway that leads to private industry takeover of 95% of the risks, on an ‘actuarial’ (i.e. adequate and sustainable in the future) rates basis. Further, multiple risk mitigation efforts are needed to help communities to deal with the flood risk on a local basis, with a small residual NFIP program using coordinated reinsurance via private and federal programs.
I hope someone in Congress can step up to the plate and set this program on a pathway that leads to private industry takeover of 95% of the risks, on an ‘actuarial’ (i.e. adequate and sustainable in the future) rates basis. Further, multiple risk mitigation efforts are needed to help communities to deal with the flood risk on a local basis, with a small residual NFIP program using coordinated reinsurance via private and federal programs.