Sec. 1331. industry flood insurance pool
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## Sec. 1331 industry flood insurance pool **[**[42 U.S.C. 4051](/us/usc/t42/s4051)**]** ###
(a)The Administrator is authorized to encourage and otherwise assist any insurance companies and other insurers which meet the requirements prescribed under subsection
(b)to form, associate, or otherwise join together in a pool— ####
(1)in order to provide the floor insurance coverage authorized under chapter I; and ####
(2)for the purpose of assuming, including as reinsurance of coverage provided by the flood insurance program, on such terms and conditions as may be agreed upon, such financial responsibility as will enable such companies and other insurers, with the Federal financial and other assistance available under this title, to assure a reasonable proportion of responsibility for the adjustment and payment of claims for losses under the flood insurance program. ###
(b)In order to promote the effective administration of the flood insurance program under this part, and to assure that the objectives of this title are furthered, the Administrator is authorized to prescribe appropriate requirements for insurance companies and other insurers participating in such pool including, but not limited to, minimum requirements for capital or surplus or assets.
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Sec. 1331
industry flood insurance pool
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