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Study: Private insurance companies could play flood insurance role
According to a new study by the Wharton School of the University of Pennsylvania, private insurance companies could play an important role in providing flood insurance and offering lower rates in some instances than those charged by the National Flood Insurance Program (NFIP). The report shows there are certain areas where average NFIP premiums are too high and other areas where average premiums are too low. This presents opportunities for private insurers to provide coverage in some of those areas to complement the NFIP.
Source:Insure.com