From Insurance Journal:

Don Brown, a senior fellow at the free-market think tank R Street Institute, said that the new legislation has provisions that could lead to more involvement by private insurers.

First, Brown said, is the ability to offer “customized coverage” that can be broader than the standard coverage available from the NFIP and, therefore, more tailored to policyholders’ needs.

Second, Brown said, since insurers are allowed to set their own rates until October 1, 2019, they will have time to develop actuarial rates and gain a greater understanding of exactly what properties are at what level of risk.

“I believe that when companies refine the rating territories to a more granular level,” Brown said, “that some companies will come up with a creative way to insure some properties.”


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