His point about the flood insurance not being actuarially sound is right; but in this bill, because it is subject to PAYGO, we have a more stringent standard. So it is not totally valid to say, oh, look, it was supposed to be actuarially done. The wind program here is written to a much stricter standard.
Barney Frank: “His point about the flood insurance not being actuarially sound is right; but in this bill, because it is subject to…”
Editor's note · Context
Discussing the standards of flood insurance and the wind program in relation to PAYGO.
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