Lawmakers should consider greater participation by private insurers in covering flood risk to address the National Flood Insurance Program's problems, Mark Hofmann writes. Privatizing flood insurance will be challenging for lawmakers, however, because such a decision could result in higher coverage rates to reflect actual flood risk, Hofmann writes. "As the NFIP's debts mount, a debate over how the private sector can reduce some of the federal financial burden stemming from the program is timely and overdue," he writes.