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Code · BILL · 116th Congress · H.R. 3167 (Reported in House) — To reform and reauthorize the National Flood Insurance Program, and for other purposes. · Sec. 403

Sec. 403. Annual independent actuarial study

144 words·~1 min read·/bill/116/hr/3167/rh/section-403

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Part C of chapter II of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4081 et seq.) is amended by adding at the end the following new section: The Administrator shall provide for an independent actuarial study of the National Flood Insurance Program to be conducted annually, which shall analyze the financial position of the Program. The Administrator shall submit a report annually to the Congress describing the results of such study and assessing the financial status of the Program.
The report shall recommend adjustments to underwriting standards, program participation, or premiums, if necessary, to ensure that the Program remains financially sound. The report shall also include an evaluation of the quality control procedures and accuracy of information utilized in the process of underwriting National Flood Insurance Program policies. Such evaluation shall include a review of the risk characteristics of policies. .
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Sec. 403
Annual independent actuarial study
U.S.C.§ 4081
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