Representatives of several foreign and domestic insurance and reinsurance trade groups are suggesting that one means of reforming the National Flood Insurance Program is to privatize all or part of it.
The Reinsurance Association of America and the Association of Bermuda Insurers and Reinsurers made these comments recently at a forum sponsored by the Federal Emergency Management Agency, which manages the NFIP.
FEMA officials said the meetings are being held because "after more than a decade of seeking input, identifying issues and conducting studies, FEMA believes that the time has come to undertake a critical review of NFIP."
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