The Federal Emergency Management Agency (FEMA) has announced the Financial Assistance/Subsidy Arrangement for private insurers interested in participating in the National Flood Insurance Program's (NFIP) Write Your Own Program for the fiscal year 2026. Insurers must express their interest by May 15, 2025, and prior involvement does not ensure future participation. FEMA will evaluate interested insurers based on industry performance data and other publicly available information according to federal regulations. The notice includes details about the arrangement's terms, highlighting key changes from the previous year, such as clarifications in terminology and responsibilities.
Simple Explanation
FEMA wants to team up with private insurance companies to help with flood insurance in 2026. They have some rules that might be hard to understand and could make it tricky for companies to join or follow them perfectly.