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

# HR 5608 Summary **What the Bill Would Do** HR 5608 would allow private insurance companies—known as "Write Your Own" (WYO) companies—to sell their own flood insurance products alongside coverage offered through the National Flood Insurance Program (NFIP). Currently, WYO companies partner with the NFIP to sell federal flood insurance but cannot offer competing private alternatives. This bill would remove that restriction, potentially giving homeowners and property owners more insurance options to choose from. **Who It Affects and Key Provisions** The bill would primarily affect property owners in flood-prone areas, private insurers, and the federal flood insurance program. By allowing competition from private flood insurance, the legislation could lower costs for some consumers, though it might also reduce the customer base and revenue of the NFIP. The bill's specifics on how this competition would be regulated or structured aren't detailed in the available summary. **Current Status** HR 5608 is currently in committee and has not yet been voted on by the full House.

It was introduced by Rep. W. Gregory Steebe (R-FL), a representative from Florida, a state significantly affected by flooding and hurricanes. The bill remains in the early stages of the legislative process.