Growing Florida’s Private Flood Market on the Latest Episode of The Florida Insurance Roundup

Taking a Lesson from Citizens Property Insurance and Obamacare

Press Release ( - TALLAHASSEE, Fla. - Jun 29, 2017 - Governor Rick Scott last Friday signed into law HB 813 to further encourage private flood insurance alternatives for Florida homeowners and businesses.  Florida’s private flood insurance market is growing while Congress tries to find potential fixes for the beleaguered National Flood Insurance Program (NFIP).  With hurricane season upon us, the private market is seen more than ever as a much-needed alternative to the debt-ridden, increasingly expensive, federal government’s NFIP.  Even more so for Florida consumers, who are largely subsidizing the program, receiving just $1 in claims benefits for every $4 paid in premiums.

Host Lisa Miller, a former Florida deputy insurance commissioner, breaks down how the Florida Legislature has made it easier for private carriers to write flood coverage in this latest episode of The Florida Insurance Roundup. We also hear from state Senator Jeff Brandes on how Florida’s private market can work hand-in-hand with the NFIP, including taking a lesson from Citizens Property Insurance.  Listen to The Florida Insurance Roundup here: ( ).

“We think that many of the low risk properties inside the NFIP will find a private flood insurance market to go into, essentially just like a Citizens Property Insurance,” said Senator Brandes.  “I think Citizens is the model they should look at.  Allow private insurance to bundle together properties within the NFIP and take them out, just like Citizens did.  But if you look at Citizens and NFIP, I think this is where this is all going.”

With less than 90 days remaining until the beleaguered NFIP expires, the U.S. House is making progress toward a series of reforms designed to tackle the programs $24.6 billion in debt and improve access and affordability for homeowners.  One fix would expand mandatory flood insurance to most U.S. homeowners – just like the Affordable Care Act on the health insurance side – to subsidize the NFIP going forward.

Links and Resources Mentioned in This Episode:

+ Florida Legislature Bill CS/CS/HB 813: Flood Insurance (

+ U.S. House of Representatives draft legislation to reform the National Flood Insurance Program (NFIP) is outlined in the

+ GAO’s Flood Insurance: Comprehensive Reform Could Improve Solvency and Enhance Resilience ( )

+ FEMA webpage on NFIP Reform (

+ Florida Office of Insurance Regulation’s list of flood insurance writers in Florida (…)

The Florida Insurance Roundup from Lisa Miller & Associates, was created to bring Florida residents and seasoned insurance professionals alike the latest developments in Property & Casualty, Healthcare, Workers’ Compensation, and Surplus Lines insurance from around the Sunshine State. Subscribe to The Florida Insurance Roundup podcast here:

Source : Lisa Miller and Associates
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