The insurance companies that administer the National Flood Insurance Program painted a dire picture Tuesday of the consequences of reversing any of the rate increases now being implemented as a result of the 2012 law that mandated that the program charge actuarial rates to customers.
The letter was written by Donald Griffin, a vice president at the Property Casualty Insurers Association of America who specializes in flood issues, on behalf of the approximately 84 so-called Write-Your-Own insurance companies.
They market NFIP policies, handle the billing and other paperwork, and also help the Federal Emergency Management Agency deal with claims.
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