The insurance companies that administer the National Flood Insurance Program painted a dire picture of the consequences of reversing any of the rate increases now being implemented as a result of the 2012 law that mandated that the program charge actuarial rates to customers.
A letter to Congress was written by Donald Griffin, a vice president at the Property Casualty Insurers Association of America who specializes in flood issues, on behalf of the approximately 84 so-called Write-Your-Own insurance companies. They market NFIP policies, handle the billing and other paperwork, and also help the Federal Emergency Management Agency deal with claims.
These WYO companies handle all but about 850,000 of the 5.5 million NFIP customers. The rest, are handled by a separate vendor on behalf of FEMA as NFIP-direct.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
