The federal government basically backs the program and assumes some of the risk / cost to keep the insurance premiums artificially low, largely because there is not much of a viable private insurance market for flood insurance. (themultifamilyguy.com)
NAR is seeking another long - term reauthorization combined with additional reforms to increase the accuracy of flood mapping, provide financial assistance for more homeowners to mitigate their risk before a flood occurs, and develop a more robust private insurance market. (nvbr.com)
Senator Tom Cotton, a conservative Arkansas Republican, said the bill would not reduce premiums for people on the private insurance market. (fortune.com)