WASHINGTON, D.C. – SmarterSafer, a national coalition of taxpayer advocates, environmental groups, insurance interests, housing organizations and mitigation advocates, released the following statement after regulators released the final rule on the acceptance of private flood insurance.

“SmarterSafer is pleased to see banking regulators move forward on a rule that ensures that that the tens of millions of Americans who live in flood-prone areas will finally have a choice about whether to purchase government insurance or to use a private insurer.

“A growing private market will decrease the coverage gap and ensure that more at-risk Americans obtain necessary insurance coverage. Whether coverage is purchased through the current federal program or through private insurance the choice is now in the hands of the consumer. While we continue to review the details of the final rule, we look forward to working with regulators, lenders, and insurance commissioners on a seamless implementation of the rule.”


About is a national coalition that is made up of a diverse chorus of voices united in favor of environmentally responsible, fiscally sound approaches to natural catastrophe policy that promote public safety. The coalition believes that the Federal government has a role in encouraging and helping homeowners to undertake mitigation efforts to safeguard their homes against natural disasters. At the same time, the coalition opposes measures that put people’s lives at risk at the expense of taxpayers. Measures such as subsidizing artificially low rates for homeowners’ insurance policies help to encourage construction in environmentally sensitive and unsafe areas. The coalition is working to ensure that Congress does not incentivize people to live in harm’s way in places prone to hurricanes and floods.