Write-Your-Own Program (WYO)

{
  "id": "MLC-T-INS-003563",
  "term": "Write-Your-Own Program (WYO)",
  "field": "Insurance and risk management",
  "definition": "A cooperative program between the Federal Emergency Management Agency (FEMA) and private insurance companies, allowing these companies to sell and service flood insurance policies under the National Flood Insurance Program (NFIP). WYO companies collect premiums, adjust and pay claims, and receive an expense allowance for their services. FEMA reinsures the policies and sets the rates and coverage terms.",
  "abbreviation": "WYO",
  "url": "https://mlchart.com/terminology/insurance/write-your-own-program-wyo/"
}