Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Debate over saving NFIP heats up in Washington

Ted Bunker 4 May 2017

A National Flood Insurance Program (NFIP) reauthorisation bill introduced last week would severely inhibit private carriers by effectively barring them from covering property in the highest-risk zones and add fees and surcharges to any non-NFIP policy, critics say.

The draft of the bill from senators Bill Cassidy, a Louisiana Republican, and Kristen Gillibrand, a Democrat from New York, would bar homeowners in high-risk flood zones from buying private cover instead of an NFIP policy, according to a Bloomberg BNA report...

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