What is the Write Your Own insurance program?


Quick Answer

The Write Your Own Program, abbreviated as WYO, allows private insurance companies to issue and service Standard Flood Insurance Policy coverage, while the federal government maintains responsibility for covering policyholders' losses, notes Federal Emergency Management Agency, known as FEMA. The WYO Program is part of the National Flood Insurance Program.

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Full Answer

By allowing private property and casualty insurance companies to write and service flood policies, the federal government increases the number and geographic spread of individuals who purchase flood insurance, states FEMA. Giving insurance companies direct experience with emergency flood situations and improving service to policyholders, by taking advantage of insurance companies' knowledge base, are goals of the program.

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