Washington Insurance Commissioner Mike Kreidler has asked about 200 insurers to take part in a voluntary “market assistance plan” (MAP) to help businesses in the Green River Valley find adequate flood coverage. These plans work like a matchmaker, pairing companies needing flood coverage with insurers willing to sell it.
State lawmakers and Gov. Chris Gregoire recently approved legislation granting Kreidler authority to order insurers to form a “Joint Underwriting Association” and sell flood coverage in the heavily industrialized area, which is downstream from the Howard Hanson Dam, if insurance is unavailable.
Topics Carriers Flood Washington
Was this article valuable?
Here are more articles you may enjoy.
Swiss Re Shares Drop After New Profit Target Falls Short of Expectations 
Viewpoint: Healthcare Cyber Insurance at an Inflection Point 
Viewpoint: Agentic AI Is Coming to Insurance Industry – Much Faster Than You Think 
Pierce Named CEO of GEICO as Combs Resigns 
