As Congress weighs reauthorization of the National Flood Insurance Program (NFIP), it has multiple options for addressing the program's challenges and should take into account specific insurance market, technological and other developments, according to a report by the American Academy of Actuaries.
Authored by the Academy's Flood Insurance Work Group, the public policy report "National Flood Insurance Program: Challenges and Solutions" describes premium setting and program financing options for addressing the NFIP's debt and future obligations, including both public and private financing mechanisms, and other possible reforms.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
