Download or read book Opportunities for a Private and Competitive Sustainable Flood Insurance Market written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-09-18 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Opportunities for a private and competitive sustainable flood insurance market : hearing before the Subcommittee on Housing and Insurance of the Committee on Financial Services, U.S. House of Representatives,, One Hundred Thirteenth Congress, second session, November 19, 2014.
Download or read book Opportunities for a Private and Competitive Sustainable Flood Insurance Market written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Insurance and published by . This book was released on 2015 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Opportunities for a Private and Competitive Sustainable Flood Insurance Market written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Insurance and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Annual Activity Report of the Committee on Financial Services of the United States House of Representatives for the Period written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2014 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal and History of Legislation written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2013 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lender placed Flood Insurance Market for Residential Properties written by Lloyd S. Dixon and published by Rand Corporation. This book was released on 2007 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) provides the majority of flood insurance on U.S. residential properties. While insurance agents sell nearly all NFIP policies through private insurance companies, the U.S. government still underwrites them. Flood insurance is also available from private insurers that underwrite it themselves. This report provides information about the size of the private market and compares private with NFIP policies.
Download or read book A Community Based Flood Insurance Option written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2015-10-08 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: River and coastal floods are among the nation's most costly natural disasters. One component in the nation's approach to managing flood risk is availability of flood insurance policies, which are offered on an individual basis primarily through the National Flood Insurance Program (NFIP). Established in 1968, the NFIP is overseen by the Federal Emergency Management Agency (FEMA) and there are about 5.4 million individual policies in the NFIP. The program has experienced a mixture of successes and persistent challenges. Successes include a large number of policy holders, the insurance of approximately $1.3 trillion of property, and the fact that the large majority of policy holders - 80% - pay rates that are risk based. NFIP challenges include large program debt, relatively low rates of purchase in many flood-prone areas, a host of issues regarding affordability of premiums, ensuring that premiums collected cover payouts and administrative fees, and a large number of properties that experience severe repetitive flood losses. At the request of FEMA, A Community-Based Flood Insurance Option identifies a range of key issues and questions that would merit consideration and further analysis as part of a community-based flood insurance program. As the report describes, the community-based option certainly offers potential benefits, such as the prospect of providing coverage for all (or nearly all) at-risk residents and properties in flood-prone communities. At the same time, many current challenges facing the NFIP may not necessarily be resolved by a community-based approach. This report discusses these and other prominent issues to be considered and further assessed.
Download or read book Information on Proposed Changes to the National Flood Insurance Program written by Orice M. Williams and published by DIANE Publishing. This book was released on 2009-06 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nat. Flood Insur. Program (NFIP) currently has 5.6 million policyholders that are insured for $1.1 trillion. The program collects $2.9 billion in annual premiums. As of Jan. 2009, NFIP owed $19.2 billion to the U.S. Treasury, primarily as a result of loans that the program received to pay claims from the 2005 hurricane season. This is a briefing on: (1) the percentage and geographic distribution of policyholders that purchase the max. NFIP coverage; (2) the availability of private commercial and residential flood insur.; (3) the potential effect of adding bus. interruption coverage to commercial flood insur., particularly for small and medium-sized bus.; and (4) the challenges and issues surrounding the potential creation of an NFIP loss fund. Illus.
Download or read book Major Savings and Reforms written by Executive Office of the President, Office of Management and Budget and published by Government Printing Office. This book was released on 2017 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major Savings and Reforms: Budget of the United States Government, Fiscal Year 2018 includes both discretionary and mandatory savings proposals that reportedly bring Federal spending under control and return the Federal budget to balance within 10 years. Audience: Congress, civilian businesses and organizations, military and defense agencies (and all governmental agencies), and members of the general public would be interested in this publication and how the President's budgetary proposals could affect the economy and the continuing operation of different civilian organizations and federal agencies. High school, public, and academic libraries will want to include this resource in their Government collections. The entire Fiscal Year (FY) 2018United States Government Budget resources collection can be found here: https://bookstore.gpo.gov/catalog/budget-economy/federal-budgets-year
Download or read book Flood Insurance Potential Barriers Cited to Increased Use of Private Insurance written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-25 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: " NFIP was created, in part, because private insurers historically have been unwilling to insure against flood damage. The private flood insurance market remains small. The 2012 Biggert-Waters Act took steps to encourage private-sector participation by requiring regulators to direct lenders to accept private flood insurance to satisfy the mandatory purchase requirement-a federal requirement to purchase flood insurance on certain properties. GAO was asked to examine if the regulatory environment posed barriers to private flood insurance. This report describes (1) lender and regulator implementation of provisions on private flood insurance; and (2) views on regulatory, or other, barriers to using private flood insurance to satisfy the mandatory purchase requirement. GAO reviewed laws, regulations and guidance and interviewed officials from FEMA, five federal regulators, government-sponsored enterprises, and the National Association of Insurance Commissioners. GAO interviewed various stakeholders, selected based on their flood insurance experience and size, among other factors: a nongeneralizable sample of eight lenders; 13 organizations; five state insurance regulators; and four private flood insurers. "
Download or read book Natural Catastrophe Insurance written by Orice M. Williams and published by DIANE Publishing. This book was released on 2008-11 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disputes between policyholders and insurers after the 2005 hurricanes highlight the challenges of determining the cause and extent of damages when properties are subject to both high winds and flooding. Additionally, insurers want to reduce their exposure in high-risk areas, and state wind insur. programs have grown significantly. The Flood Insur. Reform Act of 2007, would create a combined fed. insur. program with coverage for both wind and flood damage. This report evaluates this potential program in terms of: (1) what would be required to implement it; (2) the steps FEMA would need to take to determine premium rates that reflect all future costs; and (3) how it could affect policyholders, insur. market participants, and the fed. gov¿t. Illus.
Download or read book Flood Insurance Public Policy Goals Provide a Framework for Reform written by Orice Williams Brown and published by DIANE Publishing. This book was released on 2011-08 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insur. Program (NFIP) had to borrow from the U.S. Treasury to cover losses from the 2005 hurricanes. The outstanding debt is $17.8 billion as of March 2011. This sizable debt, plus operational and mgmt. challenges at FEMA, which administers NFIP, have kept the program on the high-risk list. NFIP¿s need to borrow to cover claims in years of catastrophic flooding has raised concerns about the program¿s long-term financial solvency. This testimony: 1) discusses ways to place NFIP on a sounder financial footing in light of public policy goals for fed. involvement in natural catastrophe insur.; and 2) highlights operational and mgmt. challenges at FEMA that affect the program. This is a print on demand report.
Download or read book Flood Insurance written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-28 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: " NFIP has accrued $24 billion in debt, highlighting structural weaknesses in the program and increasing concerns about its burden on taxpayers. As a result, some have suggested shifting exposure to the private sector and eliminating subsidized premium rates, so individual property owners-not taxpayers-would pay for their risk of flood loss. NFIP was created, in part, because private insurers were unwilling to insure against flood damage, but new technologies and a better understanding of flood risks may have increased their willingness to offer flood coverage. The Biggert-Waters Flood Insurance Reform Act of 2012 moves NFIP toward charging more full-risk rates. It also mandates that GAO conduct a study on increasing private sector involvement in flood insurance. This report addresses (1) the conditions needed for private sector involvement in flood insurance and (2) strategies for increasing private sector involvement. To do this work, GAO reviewed available documentation and hosted a roundtable in August 2013 that included stakeholders from FEMA, the insurance and reinsurance industries, and state insurance regulators, among others. GAO also interviewed other similar stakeholders. "
Download or read book Flood Insurance written by Alicia Puente Cackley and published by . This book was released on 2016-08-24 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Flood Insurance Program (NFIP) was created, in part, because private insurers historically have been unwilling to insure against flood damage. The private flood insurance market remains small. The 2012 Biggert-Waters Act took steps to encourage private-sector participation by requiring regulators to direct lenders to accept private flood insurance to satisfy the mandatory purchase requirement -- a federal requirement to purchase flood insurance on certain properties. This report describes (1) lender and regulator implementation of provisions on private flood insurance; and (2) views on regulatory, or other, barriers to using private flood insurance to satisfy the mandatory purchase requirement. Tables and figures. This is a print on demand report.
Download or read book Governance for a Sustainable Future written by Yukio Adachi and published by Springer Nature. This book was released on 2023-09-23 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the expression “responsibility to future generations” is firmly established in public and political vocabulary, its operational meaning and practice are inadequately understood and yet to be systematically evaluated. Moreover, the term has not been successfully translated into viable ethical and theoretical concepts that can guide public policies and actions. How can the modes of governance and established policy priorities become compatible with the well-being of future generations? The primary objective of this book is to identify the conditions of and obstacles to governance for a sustainable future, or future-regarding governance. Governance concerns steering a society over extended periods of time, not responding to particular policy issues. The ideas and strategies proposed by contributors in this book to establish future-regarding governance are based on the theoretical and empirical analyses of the major long-term problems facing advanced democracies in general, and Japan in particular. Japan is an interesting case indeed. Relatively poor climate policy, rapidly decreasing birth rate, aging population, extensive public debt, prolonged economic recession, healthcare and pension systems that urgently require redesigning, hollowing-out of industries and subsequent loss of jobs, deteriorating infrastructures, increasing nuclear waste, and intensifying social polarization have caused a decline in people’s trust in the government and democratic processes. Currently, Japanese citizens are widely circulating their doubts about the social system’s sustainability. This book comprises two parts. In Part I, authors from various disciplinary backgrounds examine the idea of governance for a sustainable future from theoretical perspectives. This part discusses issues associated with future-regarding governance that are wicked in nature, such as the philosophical/ethical foundation on which to base the idea of governance for a sustainable future, major impediments to the development of future-regarding governance, and the modes of thinking and action required by leaders and citizens to realize such governance. Chapters in Part II largely focus on the state of long-term governance in Japan. This part uses empirical and in-depth analyses with cross-sectoral and cross-national policy perspectives to identify the state of future-regarding governance in various policy fields and major sectors or organizations mainly in Japan, while also examining strategies and measures to improve their performance. From this perspective, Western democracies and weak democratic regimes elsewhere will be provided with valuable lessons to avoid fatal policy mistakes, thereby improving future-oriented governance worldwide. By combining theoretical discussions on far-reaching issues and empirical analyses of Japanese cases, the book will shed a new light on governance for a sustainable future.
Download or read book The National Flood Insurance Program s Market Penetration Rate written by Lloyd S. Dixon and published by Rand Infrastructure Safety and Environment and Institute for Civil Justice. This book was released on 2006-01-01 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Flooding is a major source of loss to individuals and businesses in the United States. Private insurers have historically been unable to provide flood insurance at affordable rates, and until the establishment of the National Flood Insurance Program in 1968, the primary recourse for flood victims was government disaster assistance. Congress adopted this program in response to the ongoing unavailability of private insurance and continued increases in federal disaster assistance. The Federal Emergency Management Agency is currently conducting a major evaluation of the program's goals and performance. This report contributes to that evaluation by developing more reliable estimates of the proportion of single-family homes (excluding condominiums) that have flood insurance (the market penetration rate); by identifying factors that determine the market penetration rate; and by examining some of the opportunities for, and the potential benefits of, increasing the market penetration rate.
Download or read book Flood and Homeowners Insurance written by Ella Grace Irwin and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to stakeholders with whom the United States Government Accountability office spoke, several conditions must be present to increase private sector involvement in the sale of flood insurance. First, insurers need to be able to accurately assess risk to determine premium rates. Second, insurers need to be able to charge premium rates that reflect the full estimated risk of potential flood losses while still allowing the companies to make a profit, as well as be able to decide which applicants they will insure. However, stakeholders said that such rates might seem unaffordable to many homeowners. Third, insurers need sufficient consumer participation to properly manage and diversify their risk, but stakeholders said that many property owners do not buy flood insurance because they may have an inaccurate perception of their risk of flooding. This book addresses the conditions needed for private sector involvement in flood insurance and strategies for increasing private sector involvement.
