Under the right conditions, having the private market—whether primary insurers, reinsurers, the capital markets or some combination of all three—pitch in to take on additional flood exposure could be a win-win for taxpayers as well as the insurance industry.
The challenge, however, is how a private-public partnership to relieve the burden on the National Flood Insurance Program (NFIP) might be made mutually beneficial, according to a recent report by Deloitte's Center for Financial Services.
In our last blog, we outlined the opportunities and obstacles facing those interested in taking on more flood risks, as laid out in Deloitte's report: "The Potential for Flood Insurance Privatization in the U.S.: Could Carriers Keep Their Heads Above Water?"
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