The powerful storm surge produced by Hurricane Sandy has added momentum to the federal government’s efforts to farm out a portion of the risk now borne by the National Flood Insurance Program (NFIP), and their appears to be a strong appetite in the private market.

In late January, the Government Accountability Office (GAO) published a 30-page report exploring what conditions would prompt “stakeholders” to buy into flood risk and the possible structure for such transactions.

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