The Federal Insurance Office is seeking comments on the state of the natural catastrophe insurance market.
In a notice appearing in Wednesday’s Federal Register, the FIO noted that the Biggert-Waters Flood Insurance Reform Act of 2012 requires it to study and present a report to Congress on the current state of the natural catastrophe insurance market in the United States.
Among issues on which the FIO is seeking comments and papers are the outlook for, availability and affordability of insurance for natural catastrophe perils; insurers’ role in providing incentives for risk mitigation efforts; the current financial condition of state residual markets and catastrophe funds in high-risk regions; and the potential privatization of flood insurance.
Comments and papers must be received by June 24.
Comments and documents can be submitted electronically through the Federal eRulemaking Portal, www.regulations.gov, or by mail.
The notice is available here.
Long-delayed reports from the Federal Insurance Office will be issued by summer, according to the head of FIO.