A bill to ensure that Write Your Own companies can sell private flood insurance products that compete with National Flood Insurance Program products.

# Summary of S. 2053 **What the Bill Would Do** This bill aims to allow "Write Your Own" (WYO) insurance companies to sell private flood insurance products as an alternative to the National Flood Insurance Program (NFIP). Currently, WYO companies operate under contract with the federal government to sell NFIP policies, but are generally restricted from offering competing private flood insurance. If passed, this bill would remove those restrictions, allowing these insurers to offer their own flood coverage options alongside federal policies. **Who It Affects and Key Provisions** The bill primarily affects insurance companies, homeowners, and property owners who need flood insurance. Homeowners would gain more choices in flood coverage and potentially access private market alternatives to the federally-backed program.

The NFIP, which currently handles the majority of flood insurance in the United States, could see increased competition. The bill's specific provisions are not detailed in the summary provided, but the core change would be deregulating WYO companies' ability to compete directly with federal flood insurance products. **Current Status** As of now, S. 2053 is in committee and has not yet advanced to a full Senate vote. The bill was introduced by Senator Rick Scott (R-FL) in the 119th Congress.