CFA strongly supports Congress taking steps during the National Flood Insurance Program (NFIP) reauthorization process to allow private insurers to assume a significant amount of flood risk. However, involving the private insurance market on flood insurance requires careful planning since some proposals we have seen would expose consumers to extremely unfair practices and expose taxpayers to more risk for reasons we explain in this letter. Any increase in the role of private insurers must be accompanied with robust consumer protections.
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