Prof. Schwarcz Published Op-Ed in Washington Post on Reforming Flood Insurance

Professor Daniel Schwarcz argues in a recent op-ed in the Washington Post that Congress should reform the National Flood Insurance Program by drawing on principles from Obamacare.  In particular, he suggests shifting completely to a market-based flood insurance mechanism with explicit government subsidies based on policyholder income and federally-provided reinsurance for participating carriers.  He also raises red flags about reform proposals that would have private carriers operate in concert with the existing federal flood insurance program, because private carriers could cherry-pick only policyholders who are being charged too much for coverage, leaving the National Flood Insurance Program even less financially stable.