Source: http://www.thefederalregister.com/d.p/2006-09-18-E6-15462
Timestamp: 2013-05-21 14:18:24
Document Index: 122962663

Matched Legal Cases: ['art 7114', 'art 3944', 'art 6726', 'art 140', 'art 5250', 'art 1739', 'art 30206', 'art 514', 'art 9740', 'art 180', 'art 62', 'art 62']

Private sector property insurers assistance, Daily Rules, Proposed Rules, and Notices of the Federal Government
14 CFR Part 7114 CFR Part 3944 CFR Part 6726 CFR Part 140 CFR Part 5250 CFR Part 1739 CFR Part 30206 CFR Part 514 CFR Part 9740 CFR Part 180	Federal Register: September 18, 2006 (Volume 71, Number 180)
DOCID: FR Doc E6-15462
SUBJECT CATEGORY: National Flood Insurance Program (NFIP); Assistance to Private Sector Property Insurers DOCUMENT 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 resubscribe to the Arrangement.
SUMMARY: Private sector property insurers assistance, SUPPLEMENTAL INFORMATION
Under the Arrangement, approximately 90 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 20052006 Arrangement year FEMA published (70 FR 55915, Sept. 23, 2005) notice of the changes to the Arrangement. No changes have been made to the Arrangement since the publication of the previous notice. [[Page 54679]] During September 2006, FEMA will send a copy of the offer for the 20062007 Arrangement year, together with related materials and submission instructions, to all private insurance companies participating under the current 20052006 Arrangement. Any private insurance company not currently participating in the WYO Program but wishing to consider FEMA's offer for 20062007 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 2026463445 (facsimile), or Edward.Connor@dhs.gov (e mail). David I. Maurstad,
Federal Insurance Administrator, National Flood Insurance Program, Mitigation Division, Federal Emergency Management Agency, Department of Homeland Security. [FR Doc. E615462 Filed 91506; 8:45 am]