From Law360:

Free-market groups on Monday urged banking regulators to create a path for surplus lines insurers to provide flood coverage on mortgaged property and to set up protections against flood policies that offer little or no coverage.

The R Street Institute, National Taxpayers Union and American Consumer Institute put forward the suggestions in a letter to the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Federal Reserve Board, National Credit Union Administration and Farm Credit Administration.

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