The risk of required and rising flood insurance premiums offered by the National Flood Insurance Program has been a proverbial gun to Minot’s head over the past several years. And one problem has been the Federal government’s insistence on using the NFIP for FHA-backed mortgages. It’s a policy that keeps the private insurance market from developing. But what if HUD released FHA-backed mortgage holders to explore private flood insurance? Mac Armstrong, an insurance professional with experience in catastrophe insurance suggests it would be a good thing. Get his full commentary from The Dallas Morning News linked below.
And why does this matter in Minot? Anything that improves the flood insurance market is good for Minot.
