Which one of the following is not true about the National Flood - ProProfs Discuss
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Which one of the following is not true about the National Flood Insurance Program?



A. There are maximum limits on the amount of coverage available.
B. Coverage may be written by private insurance carriers.
C. Eligibility requirements are set by private insurance carriers.
D. The federal government reimburses insurance companies for losses that exceed premiums collected.

This question is part of Property and Casualty Insurance License Exam Cram
Asked by Wyatt Williams, Last updated: Apr 02, 2020

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3 Answers

John Adney

I don't understand how I got the question wrong. I chose number 2 and it clearly states that "coverage may be written by private insurance carriers" in the feedback notes. Please help. Thanks.
 

John Adney

I don't understand how I got the question wrong. I chose number 2 and it clearly states that "coverage may be written by private insurance carriers" in the feedback notes. Please help. Thanks.
 

John Smith

John Smith

Answered Oct 20, 2016

Eligibility requirements are set by private insurance carriers.

The Federal Insurance Administration sets rates, eligibility requirements, and coverage limitations for flood insurance. Maximum limits do apply to the amount of coverage available, coverage may be written by private insurance carriers, and the FIA reimburses insurance companies for losses that exceed premiums collected.
 

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