[Federal Register Volume 70, Number 184 (Friday, September 23, 2005)]
[Notices]
[Page 55915]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-19072]


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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency


National Flood Insurance Program (NFIP); Assistance to Private 
Sector Property Insurers

AGENCY: Federal Emergency Management Agency (FEMA), Emergency 
Preparedness and Response Directorate, Department of Homeland Security.

ACTION: Notice.

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SUMMARY: Each year FEMA is required by the Write-Your-Own (``WYO'') 
program Financial Assistance/Subsidy Arrangement (``Arrangement'') to 
notify the private insurance companies (``Companies'') and make 
available to the Companies the terms for subscription or re-
subscription to the Arrangement. In keeping with that requirement, this 
notice provides the terms to the Companies to subscribe or re-subscribe 
to the Arrangement.

FOR FURTHER INFORMATION CONTACT: Edward L. Connor, FEMA, 500 C Street, 
SW., Washington, DC 20472, 202-646-3429 (Phone), 202-646-3445 
(facsimile), or <a href="/cdn-cgi/l/email-protection#377253405645531974585959584577535f4419505841"><span class="__cf_email__" data-cfemail="054061726477612b466a6b6b6a7745616d762b626a73">[email protected]</span></a> (e-mail).

SUPPLEMENTARY INFORMATION: Under the Arrangement, approximately 95 
private sector property insurers issue flood insurance policies and 
adjust flood insurance claims under their own names based on the 
Arrangement with the Federal Insurance Administration (FIA) (44 CFR 
part 62, appendix A). The WYO insurers receive an expense allowance and 
remit the remaining premium to the Federal Government. The Federal 
Government pays WYO insurers for flood losses and pays loss adjustment 
expenses based on a fee schedule. Litigation costs, including court 
costs, attorney fees, judgments, and settlements, are paid by FIA based 
on submitted documentation. The Arrangement provides that under certain 
circumstances reimbursement for litigation costs will not be made. The 
complete Arrangement is published in 44 CFR part 62, appendix A.
    Each year FEMA is required to publish in the Federal Register and 
make available to the Companies the terms for subscription or re-
subscription to the Financial Assistance/Subsidy Arrangement. During 
the 2004-2005 Arrangement year FEMA published (69 FR 45608, Jul. 30, 
2004) an interim final rule which made changes to the Arrangement. No 
changes have been made to the Arrangement since the publication of the 
interim final rule.
    During September 2005, FEMA will send a copy of the offer for the 
2005-2006 Arrangement year, together with related materials and 
submission instructions, to all private insurance companies 
participating under the current 2004-2005 Arrangement. Any private 
insurance company not currently participating in the WYO Program but 
wishing to consider FEMA's offer for 2005-2006 may request a copy by 
writing: Federal Emergency Management Agency, Mitigation Division, 
Attn: WYO Program, 500 C Street, SW., Washington, DC 20472, or contact 
Edward Connor 202-646-3445 (facsimile), or <a href="/cdn-cgi/l/email-protection#80c5e4f7e1f2e4aec3efeeeeeff2c0e4e8f3aee7eff6"><span class="__cf_email__" data-cfemail="7b3e1f0c1a091f553814151514093b1f1308551c140d">[email protected]</span></a> (e-
mail).

R. David Paulison,
Acting Under Secretary, Emergency Preparedness and Response, Department 
of Homeland Security.
[FR Doc. 05-19072 Filed 9-22-05; 8:45 am]
BILLING CODE 4410-10-P


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