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In keeping with FEMA’s commitment to excellence in service of NFIP policyholders and appropriate spending of taxpayer funds, FEMA is working to increase oversight of WYO companies.
Tuesday, August 23, 2016
FEMA Bulletin W-16059 
Aug. 23, 2016 

MEMORANDUM FOR: Write Your Own (WYO) Company Principal Coordinators and the National Flood Insurance Program Servicing Agent

FROM: Roy E. Wright Deputy Associate Administrator for Insurance and Mitigation Federal Insurance and Mitigation Administration 

SUBJECT: Revised Error Threshold for Underwriting Operation Reviews 

In keeping with FEMA’s commitment to excellence in service of NFIP policyholders and appropriate spending of taxpayer funds, FEMA is working to increase oversight of WYO companies. Accordingly, FEMA intends to implement the following change to the WYO program for the FY 2017 Arrangement Year. 

Effective Oct. 1, 2016, FEMA is revising the acceptable error percentage for reviews of a WYO company’s underwriting operations from 20 percent to 7 percent. 

If the error percentage is greater than 7 percent but not exceeding 14 percent, the company will be subject to an annual Operation Review. 

If the error percentage is greater than 14 percent, FEMA will require WYO companies to perform a re-underwriting of their book of business issued since the last Operation Review, based on the types of errors found. Companies in this category also will be subject to annual Operation Reviews. 

This bulletin does not implement any changes to the Arrangement, Financial Control Plan Requirements and Procedures, or any other NFIP document. FEMA will implement any actual changes using appropriate procedures provided by statute, regulation, and agency guidance. 

If you have any questions about this bulletin, please contact Kevin Brown of the Industry Management branch at kevin.brown4@fema.dhs.gov.




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