ALABAMA SURVEY ON PRIVATE FLOOD MARKET PROMPTS LEGISLATION TO ENCOURAGE INSURER PARTICIPATION

Alabama Department of Insurance (ALDOI)

Roy

The Alabama Department of Insurance (ALDOI) released results of a survey taken to understand the private flood insurance market in the state. The ALDOI commissioned Milliman, Inc. (Milliman), a premier global consulting and actuarial firm, to survey flood insurance industry stakeholders and understand their concerns and perspectives around writing private flood insurance in Alabama, and ways to overcome regulatory, technical, and consumer-focused challenges.
 


S.C. Private Flood Insurance Act Enacted, Aims to Make Flood Insurance More Accessible

Source: SC DOI Press Release

Roy

From the September 30, 2020 Press Release

"Columbia, S.C. – Monday, Governor Henry McMaster signed the South Carolina Private Flood Insurance Act into law (S. 882). This Act aims to foster innovative flood insurance coverage in South Carolina, allowing insurers the ability to test products in the market and offer consumers greater choice for flood insurance coverage. "

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