On July 17, NAR sent a letter to the National Association of Insurance Commissioners (NAIC) regarding draft best practices guidance for a burgeoning private flood insurance market. NAR offered general support for insurance guidance or model legislation to help more states tailor their insurance regulations to meet the unique challenges of writing private flood insurance. The letter also transmits groundbreaking research on state insurance laws focusing on those provisions most likely to influence the development of a more robust private market for flood insurance.
NAR Comment Letter to NAIC Chair Chaney Re State Regulators and Private Flood Insurance Market
Issue Date: July 17, 2019
On July 17, NAR sent a letter to the National Association of Insurance Commissioners (NAIC) regarding draft best practices guidance for a burgeoning private flood insurance market. NAR offered general support for insurance guidance or model legislation to help more states tailor their insurance regulations to meet the unique challenges of writing private flood insurance. The letter also transmits groundbreaking research on state insurance laws focusing on those provisions most likely to influence the development of a more robust private market for flood insurance.
Download Letter