New rule paves the way for larger flood insurance market
Federal Deposit Insurance Corp | January 29, 2019
A new federal rule compelling mortgage lenders to accept both private and government-backed flood insurance policies could boost the number of policies underwritten by private insurers. The rule was approved by the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency last week and is set to go into effect in July, according to the Wall Street Journal.