NFIP rates must be actuarially sound, expert says

03/25/2013 | PropertyCasualty360

Bills filed by Rep. Steven Palazzo, R-Miss., aim to curb rate increases and gradually do away with subsidies under the National Flood Insurance Program. Steve Weisbart of the Insurance Information Institute said such measures are discouraging, adding that risk should be accurately priced. The government could create a loan program to assist homeowners while making rates actuarially sound, he said.

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