Horn2018.Flood - Revision history

Graham: /* Study Tips */

2021-02-19T22:08:52Z

‎Study Tips

Graham: /* Study Tips */

2021-02-19T22:08:32Z

‎Study Tips

Graham at 22:07, 19 February 2021

2021-02-19T22:07:09Z

Graham at 21:49, 19 February 2021

2021-02-19T21:49:04Z

Graham at 19:13, 8 January 2021

2021-01-08T19:13:00Z

Graham: /* BattleTable */

2020-10-27T23:42:12Z

‎BattleTable

Graham: /* BattleTable */

2020-02-13T19:25:06Z

‎BattleTable

Graham: /* BattleTable */

2019-10-29T20:25:06Z

‎BattleTable

Graham: /* General Information */

2019-10-29T20:22:41Z

‎General Information

Graham: /* General Information */

2019-10-29T20:22:26Z

‎General Information

@@ Line 19: / Line 19: @@
 * a small amount of detail was added regarding NFIP risk management tools of private reinsurance & catastrophe bonds
-* the non-compete clause was essentially removed <span style="color: red;">&nbsp; &larr; see ''[[Horn2018.Flood#Private_Flood_Insurance_Outside_NFIP:_Issues_.26_Barriers | Private Flood Insurance Outside NFIP: Issues & Barriers]]''
+* the non-compete clause was essentially removed <span style="color: ;">&nbsp; &rarr; see ''[[Horn2018.Flood#Private_Flood_Insurance_Outside_NFIP:_Issues_.26_Barriers | Private Flood Insurance Outside NFIP: Issues & Barriers]]''
 This is an easy reading but it has a lot of memorization.

@@ Line 19: / Line 19: @@
 * a small amount of detail was added regarding NFIP risk management tools of private reinsurance & catastrophe bonds
-* the non-compete clause was essentially removed
+* the non-compete clause was essentially removed <span style="color: red;">&nbsp; &larr; see ''[[Horn2018.Flood#Private_Flood_Insurance_Outside_NFIP:_Issues_.26_Barriers | Private Flood Insurance Outside NFIP: Issues & Barriers]]''
 This is an easy reading but it has a lot of memorization.

@@ Line 1: / Line 1: @@
 {| class='wikitable' style='background-color: lightgreen;'
 |-
-|| <span style="color: black;">'''Updates for 2021.Spring are COMPLETE:'''</span> &nbsp; There were <u>minor</u>. <br> ''(For administrative reasons, the title of this wiki still contains the year 2018, but this is indeed the 2019 version.)''
+|| <span style="color: black;">'''Updates for 2021.Spring are COMPLETE:'''</span> &nbsp; The changes were <u>minor</u> but material. <br> ''(For administrative reasons, the title of this wiki still contains the year 2018, but this is indeed the 2019 version.)''
 |}

@@ Line 1: / Line 1: @@
-{| class='wikitable' style='background-color: navajowhite'
+{| class='wikitable' style='background-color: lightgreen;'
 |-
-|| <span style="color: green;">'''Updates for 2021.Spring are in progress:'''</span> This chapter may have important updates for 2021.Spring. We will notify you through the twitter feed on our home page when updates are complete.
+|| <span style="color: black;">'''Updates for 2021.Spring are COMPLETE:'''</span> &nbsp; There were <u>minor</u>. <br> ''(For administrative reasons, the title of this wiki still contains the year 2018, but this is indeed the 2019 version.)''
 |}
-Horn & Webel (2018), ''Private Flood Insurance and the National Flood Insurance Program (NFIP)'', focuses largely on the role of private insurance in flood coverage.
+'''Reading''': “Private Flood Insurance and the National Flood Insurance Program,” updated May 7, 2019, Congressional Research Service R45242, Summary and pp. 1-20.
-&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/Horn2018-Flood<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+'''Author''': Horn, D. and Webel, B.
 ==Study Tips==
@@ Line 13: / Line 15: @@
 I think a <span style="color: red;">'''very likely exam question'''</span> would be to identify and briefly describe '''issues''' & '''barriers''' to greater private offering of flood insurance. Then a related question would be how these issues could be <u>addressed</u>. Not that I would ignore everything else, but if you're pressed for time and want to prioritize, I would cover that subsection first. Click ''[[Horn2018.Flood#Private_Flood_Insurance_Outside_NFIP:_Issues_.26_Barriers | here]]'' for direct link.
 This is an easy reading but it has a lot of memorization.
@@ Line 42: / Line 49: @@
 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Horn2018&suffix=Flood&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span>
-&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/Horn2018-Flood<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/Horn-Flood<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 ==In Plain English!==
@@ Line 48: / Line 55: @@
 ===Preliminary===
-was a mega-hurricane season that included:
+The increase in hurricanes and floods has put a financial strain on the NFIP ''(National Flood Insurance Program)''. A longer-term solution is to expand the availability of private flood insurance. That's the topic of this reading. Read the summary and introduction to this reading using the pdf in the link below. The table of contents is also included.
-: '''Harvey (TX)''': 125b damage
+: [https://www.battleacts6us.ca/pdf/Horn2019.Flood_p02-03.pdf <span style="color: white; font-size: 12px; background-color: green; border: solid; border-width: 2px; border-radius: 10px; border-color: green; padding: 1px 3px 1px 3px; margin: 0px;">'''''Horn2019.Flood Summary (from source text)'''''</span>]
 ===Background on NFIP===
@@ Line 205: / Line 204: @@
 Congress permits FEMA to use private reinsurance and/or capital markets as a risk management tool for NFIP.
 :{| class="wikitable"
@@ Line 260: / Line 271: @@
 :# coverage must be "at least as broad" as NFIP coverage ''(might be hard to determine since policy forms can be written differently)''
 :# continuous coverage requirement ''(coverage must be continuous to retain NFIP premium subsidies, and a customer switching to private insurance may constitute a lapse in coverage)''
-:# non-compete clause ''(a private insurer who sells NFIP policies as a WYO carrier may <u>not</u> offer private coverage that competes with NFIP)''
+:# <s>non-compete clause ''(a private insurer who sells NFIP policies as a WYO carrier may <u>not</u> offer private coverage that competes with NFIP)''</s> <span style="color: red;">&larr; ''removed for Fiscal Year 2019''</span>
 :# NFIP subsidized rates ''(a private insurer can't compete with taxpayer-subsidized rates)''
 :# regulatory uncertainty ''(private coverage <u>increases</u> state involvement which <u>increases</u> compliance costs since each state may have different regulations)''
@@ Line 266: / Line 277: @@
 :# participation rates ''(necessary to manage & diversify portfolio, but even where flood insurance is mandatory participation can be low)''
-I think the above question is a very likely exam question. Then a related question is how can these issues could be addressed.
+:{| class='wikitable' style='background-color: navajowhite;'
 :{| class='wikitable'
@@ Line 275: / Line 291: @@
 :# <u>replace</u> "at least as broad" with "'''comply''' with state regulations" ''(that's easier for state regulators to determine)''
 :# <u>pass</u> a federal law stating that private flood insurance '''counts''' when assessing whether coverage has been continuous
-:# <u>eliminate</u> the non-compete clause ''(or give WYOs temporary authority to sell certain types of flood insurance)''
+:# <u>eliminate</u> the non-compete clause ''(or give WYOs temporary authority to sell certain types of flood insurance)'' <span style="color: red;">&larr; ''this was "essentially" done for Fiscal Year 2019''</span>
 :# <u>reform</u> NFIP rate strucutre so that prices match what a private insurer would charge
 :# don't change anything - state level authority may be better in the long-term because it encourages '''state-specific solutions'''
@@ Line 308: / Line 324: @@
 The source text has a very nice conclusion that wraps everything up. You can read it using the link below.
-[https://www.battleacts6us.ca/pdf/Horn2018.Flood_02_conclusion.pdf <span style="color: white; font-size: 12px; background-color: green; border: solid; border-width: 2px; border-radius: 10px; border-color: green; padding: 1px 3px 1px 3px; margin: 0px;">'''''Horn2018.Flood Conclusion (from source text)'''''</span>]
+[https://www.battleacts6us.ca/pdf/Horn2019.Flood_p22-24.pdf <span style="color: white; font-size: 12px; background-color: green; border: solid; border-width: 2px; border-radius: 10px; border-color: green; padding: 1px 3px 1px 3px; margin: 0px;">'''''Horn2019.Flood Conclusion (from source text)'''''</span>]
 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Horn2018&suffix=Flood&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span>
-&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/Horn2018-Flood<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/Horn-Flood<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]

← Older revision		Revision as of 19:13, 8 January 2021
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		+	{\| class='wikitable' style='background-color: navajowhite'
		+	\|-
		+	\|\| <span style="color: green;">'''Updates for 2021.Spring are in progress:'''</span> This chapter may have important updates for 2021.Spring. We will notify you through the twitter feed on our home page when updates are complete.
		+	\|}
		+
	Horn & Webel (2018), ''Private Flood Insurance and the National Flood Insurance Program (NFIP)'', focuses largely on the role of private insurance in flood coverage.		Horn & Webel (2018), ''Private Flood Insurance and the National Flood Insurance Program (NFIP)'', focuses largely on the role of private insurance in flood coverage.

← Older revision		Revision as of 19:25, 13 February 2020
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	* ''this reading is new for 2019.Fall, but there has always been some sort of flood reading on the syllabus''		* ''this reading is new for 2019.Fall, but there has always been some sort of flood reading on the syllabus''
		+
		+	{\| class='wikitable'
		+	\|-
		+	\| Questions held out from most recent exam: '''#8'''. ''(Skip these now to have a fresh exam to practice on later. For links to these questions, see [[Exam Summaries]].)''
		+	\|}

	: {\| class="wikitable" style="width: 1000px;"		: {\| class="wikitable" style="width: 1000px;"

@@ Line 15: / Line 15: @@
 ==BattleTable==
-* ''this reading is new for 2019.Fall.''
+* ''this reading is new for 2019.Fall, but there has always been some sort of flood reading on the syllabus''
 : {| class="wikitable" style="width: 1000px;"

@@ Line 54: / Line 54: @@
 ====General Information====
-Let's cover some basic facts about NFIP and how it operates. The primary reason for the existence of the program is to fill an ''unmet need'' in the marketplace. If private insurers charged actuarially sound rates, flood coverage would likely be unaffordable to those in high-risk areas who would need it the most.
+Let's cover some basic facts about NFIP and how it operates. The primary reason for the existence of the program is to '''fill an unmet need''' in the marketplace. If private insurers charged actuarially sound rates, flood coverage would likely be unaffordable to those in high-risk areas who would need it the most.
 :{| class='wikitable'