NFIP’s rating model in Republican crosshairs

Insurers say Risk Rating 2.0 is boosting the private US flood market, but some Republican Senators have called for it to be abolished and for a return to a zone-based pricing model

Insurers and public policy experts largely support the new underwriting policy adopted by the federal National Flood Insurance Program (NFIP), saying it is opening the flood market to private carriers long kept out by subsidised government alternatives, but some Republicans oppose the new actuarial framework.