Has the federal government stepped in when private industry has been unwilling or unable to offer insurance for certain risks?
Yes. Where the private insurance industry has been unwilling or unable to offer insurance for certain risks, the federal government has stepped in to create insurance programs to try to manage risks and collect premiums. Every state participates in the National Flood Insurance Program. The federal government also provides multiple peril crop insurance to protect farmers from disaster losses that private insurers will not cover.
Related Questions
- If a federal agency contracts with a private or other entity to conduct certain activities of the agency, does the Executive Order apply to the activities of the contractor?
- Has the federal government stepped in when private industry has been unwilling or unable to offer insurance for certain risks?
- Did the insurance industry write the federal governments rules to waive proper investigation of NFIP flood claims?
