What does FEMA or the Department of Homeland Security (DHS) have to do with my flood insurance?
The NFIP was created by Congress in response to the rising cost of disaster relief for flood victims. The NFIP is managed by FEMA (which is a part of DHS). Through FEMA’s “Write Your Own” (WYO) Program, private insurance companies write and service the standard federal flood insurance policy under their own names. The standard federal policy is also available from FEMA’s Direct Servicing Agent. No matter which carrier issues your flood insurance policy, the coverage and rates are the same, as are the general conditions and provisions for loss settlements (claims). FEMA provides the funds used by the WYO companies to pay NFIP claims, and regularly audits those companies to ensure that they are handling policies and claims in accordance with the rules and regulations of the program.
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