Does the Wisconsin Office of the Commissioner of Insurance (OCI) have any jurisdiction over the NFIP in their respective states?
As established by the U.S. Congress, the sale of flood insurance under the NFIP is subject to the rules and regulations of FEMA. FEMA has elected to have state-licensed insurance companies’ agents and brokers sell flood insurance to consumers. OCI holds the insurance companies’ agents and brokers accountable for providing NFIP customers with the same standards and level of service that it requires of them in selling their other lines of insurance. Private insurance companies participating in the Write Your Own (WYO) Program must be licensed and are regulated by the OCI to engage in the business of property insurance in Wisconsin in order to sell flood insurance.
