United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-09-05 monographic deposited born digital 57 p. GA 1.13:GAO-07-1078 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1078 P0b002ee18038357b f:d071078 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-07-1078 machine generated eng fdlp REPORT GAOREPORTS-GAO-07-1078 GAO-07-1078 Claims processing Claims processing costs Claims settlement Expense claims Financial statement audits Flood insurance Hurricane Katrina Insurance claims Insurance companies Insurance premiums Internal controls Operating expenses Policies and procedures Program costs Program goals or objectives Program implementation FEMA National Flood Insurance Program FEMA Write Your Own Program Other Written Product A75672 Extraordinary recent flood events raise serious questions about the solvency of the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA). The NFIP is largely implemented by private insurance companies that sell and service policies and adjust claims under the Write Your Own (WYO) Program. This report, prepared under the authority of the Comptroller General, examines (1) how much FEMA paid the WYO companies in recent years for operating costs and how FEMA determined payment amounts; (2) how FEMA's approach to determining operating costs assures that payments are reasonable estimates of companies' expenses; and (3) how FEMA assures that financial and management controls are in place for the WYO program and operate as intended. To do these assessments, GAO interviewed FEMA and insurance officials, and analyzed statutes, regulations, payment data, methodologies, and audits of WYO companies. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1078/html/GAOREPORTS-GAO-07-1078.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1078/pdf/GAOREPORTS-GAO-07-1078.pdf GAO-07-1078 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1078 Other Written Product GAO-07-1078; National Flood Insurance Program: FEMA's Management and Oversight of Payments for Insurance Company Services Should Be Improved; Claims processing Claims processing costs Claims settlement Expense claims Financial statement audits Flood insurance Hurricane Katrina Insurance claims Insurance companies Insurance premiums Internal controls Operating expenses Policies and procedures Program costs Program goals or objectives Program implementation FEMA National Flood Insurance Program FEMA Write Your Own Program