Gina Reyes The National Flood Insurance Program (NFIP), implemented in 1968 to address a market failure in the flood insurance sector, has been the subject of scrutiny following hurricanes Harvey and Irma. Increasing the scope of the private sector has often been cited as a potential solution to the NFIP’s pitfalls. However, there are challenges … Continue reading Challenges to Privatizing Flood Insurance
Depopulation of Citizens Property Insurance Should Continue
By Matt Kelly On February 17th, 2015, Florida state Senator Anitere Flores filed SB 1006, which would place restrictions on shifting insurance policies from state-backed Citizens Property Insurance Corporation to private sector insurers. Citizens’ policyholders would be notified before being transferred to private insurers, who would be barred from increasing premiums more than 10% annually … Continue reading Depopulation of Citizens Property Insurance Should Continue