Sen. Rick Scott (R-FLa.) has proposed a package of bills that would reshape the National Flood Insurance Program (NFIP), focusing on transparency, affordability, and opening the market to private insurers.
One of the proposed bills, the Removing Barriers to Private Flood Insurance Act, seeks to eliminate restrictions that prevent insurers participating in the NFIP’s Write Your Own program from offering private flood products. The prohibition would extend to brokers, agents, and other firms marketing either NFIP or private flood policies.
Another bill, the Flood Insurance Consumer Choice Act, would allow policyholders to re-enter the NFIP after opting for private flood insurance without being penalized for a lapse in federal coverage. This would enable consumers to meet the NFIP’s continuous coverage requirement, qualifying them for lower rates under grandfathering provisions. According to the NFIP website, continuous coverage is one of the criteria for accessing reduced premiums.
The Flood Insurance Transparency Act, also introduced by Scott, would make historical claims data, risk assessments, policy information, and flood risk models publicly accessible. The bill includes privacy safeguards, limiting disclosure to policy terms and amounts, claims dates and payouts, and general location data such as ZIP codes or census blocks. Property-level addresses would not be published. However, the number of properties with multiple claims in each community would be included.
“With hurricane season underway, families in Florida and across the nation have flood insurance top of mind and are seeking access to affordable, reliable coverage when they need it most,” Scott said in a statement. “The NFIP has historically been wildly inefficient, buried in debt and pushes unaffordable rate hikes that have been unfair to Florida’s taxpayers.”
The National Flood Association has not yet commented on the matter.
The legislative proposals come at a time of uncertainty for the NFIP, which is overseen by the Federal Emergency Management Agency (FEMA). On June 11, President Donald Trump announced plans to begin dismantling FEMA after the current hurricane season. According to Trump, emergency funds will be distributed through the White House in the future, but state governments should expect reduced funding and increased responsibility.
In 2024, the five largest private flood insurers in the US by direct premiums written were XL America Cos. (12.96%), Assurant P&C Group (11.49%), MS&AD US Insurance Group (10.71%), Berkshire Hathaway Insurance Group (10.71%), and Liberty Mutual Insurance Companies (7.52%), according to BestLink.
Wright National is one of the best flood insurance companies in the US for federal flood coverage, based on market share data. Learn more here.
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