basic authority

basic authority Sec. 1304. (a) To carry out the purposes of this title, the Secretary of Housing and Urban Development is authorized to establish and carry out a national flood insurance program which will enable interested persons to purchase insurance against loss resulting from physical damage to or loss of real property or personal property related thereto arising from any flood occurring in the United States. (b) In carrying out the flood insurance program the Secretary shall, to the maximum extent practicable, encourage and arrange for— (1) appropriate financial participation and risk sharing in the program by insurance companies and other insurers, and (2) other appropriate participation, on other than a risk-sharing basis, by insurance companies and other insurers, insurance agents and brokers, and insurance adjustment organizations, in accordance with the provisions of chapter II.