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The Move to Private Flood

In a Claims Journal interview, Marc Treacy, managing director of flood insurance at ISO, said the National Flood Insurance Program needs to evolve and mirror some of the private flood insurance market in order to be sustainable in the future...
January 24, 2018

In a Claims Journal interview, Marc Treacy, managing director of flood insurance at ISO, said the National Flood Insurance Program needs to evolve and mirror some of the private flood insurance market in order to be sustainable in the future. The first step is providing clarity through the 21st Century Flood Reform Act, currently pending in the Senate, that would stipulate private market flood insurance meets federal flood insurance regulations. He also said state regulators need to take a proactive role in the flood insurance market, and consumers and businesses need to be better educated about the coverage and their exposure to flooding.

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