Washington Asks Insurers to Provide Flood Coverage

April 12, 2010

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.

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