What do private insurers participate in under the Write Your Own program?

Private insurers participate in the Write Your Own (WYO) program specifically for flood insurance policies. This program allows private insurance companies to write and service flood insurance policies that are backed by the National Flood Insurance Program (NFIP). With this arrangement, insurers can use their own underwriting practices and customer service, while still offering coverage that meets federal standards.

The WYO program is designed to increase the availability of flood insurance to property owners, and it allows policyholders to have the same level of federal support while benefiting from the efficiencies and customer service standards of private insurers. This creates a system where more people can access necessary flood coverage, particularly in areas prone to flooding.

The other types of insurance, such as auto, commercial property, and life insurance, do not fall under the WYO program, as they are managed by private insurers independent of direct backing from the NFIP.