Agent2 The NFIP is a gov program but it administered by private Companies,,,,so the backlog is sitting on the desks of Travelers, Selective and all the other companies and public adjusters who get paid to administer the program. Over 40% of the premiums go to agents and companies but they are ill equipped for disasters
Actually, I think the article is addressing policies insureds have directly with the NFIP. It’s still possible for an insured to purchase a flood policy serviced directly with the NFIP. A while back we had a couple of these policies from a book of business we purchased but we moved the policies over to WYO carriers such as Fidelity, Travelers and Selective.
Yes, it is the Write Your Own companies but they are following FEMA guidlines for the approval of payments, etc. Do you think all those companies are doing a bad job or is it red tape and procedure?
Wow, government officials asking government officals to do thier job! this should be interesting.
Agent2 The NFIP is a gov program but it administered by private Companies,,,,so the backlog is sitting on the desks of Travelers, Selective and all the other companies and public adjusters who get paid to administer the program. Over 40% of the premiums go to agents and companies but they are ill equipped for disasters
Actually, I think the article is addressing policies insureds have directly with the NFIP. It’s still possible for an insured to purchase a flood policy serviced directly with the NFIP. A while back we had a couple of these policies from a book of business we purchased but we moved the policies over to WYO carriers such as Fidelity, Travelers and Selective.
Yes, it is the Write Your Own companies but they are following FEMA guidlines for the approval of payments, etc. Do you think all those companies are doing a bad job or is it red tape and procedure?