New insurance companies that seek to
participate in the WYO program, as well as former WYO companies
seeking to return, must meet standards for WYO Financial Control
Plan (approved under OMB Control# 1660-0020). Private Insurance
Companies and/or public entity risk-sharing organizations wishing
to enter or reenter the WYO program must demonstrate the ability to
meet the financial requirements. The information allows FEMA to
determine the applicant's capability of meeting program goals
including marketing of flood insurance, training agents and staff
in the program rules, and its capabilities for claims handling and
disaster response.
US Code:
42
USC 4001 Name of Law: National Flood Insurance Act
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.