For years, the National Flood Insurance Program (NFIP), which maintains a near-monopoly over the flood insurance market in the U.S. and covers more than 5 million properties nationwide, has been drowning in red ink. Without significant reforms, it will only get worse. The NFIP, which is overseen by the Federal Emergency Management Agency (FEMA), was […]
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As Natural Disasters Become More Frequent, Mitigation is Critical
The federal government has been slow to adapt to the realities of climate change. Disaster management programs and policies designed a half-century ago are proving wholly inadequate for the challenges we face today — and those we know are coming. You can read this opinion piece in The Economic Standard.
COVID-19 Makes Hurricane Preparation More Urgent
2020 has been an undeniably tough year already, and the hurricane season is projected to make it even tougher for communities along America’s eastern coast. Up to six major hurricanes are predicted, rising from an average of three, between the start of June though the end of November. Against the backdrop of an economy in […]
Waco Tribune Herald: Government Loses Billiions Coddling Coastal Elites
If experts are to be believed, climate change is set to reshape America’s physical geography through rising sea levels and increasingly wild weather. Despite the risks, many federal programs are being used to protect some of America’s wealthiest seaside communities. Rather than forcing taxpayers to bankroll their beach lifestyle, the Federal Emergency Management Agency should […]
Inside Sources: It Is Time to Fix the Federal Flood Insurance Program
Better mapping and pricing at risk is paramount, and spreading that risk to private insurers is necessary to cut this wasteful federal spending. It’s time for Congress to stop kicking the can down the road and fix the problem. You can read this op-ed in Inside Sources. How the Rich are Using Federal Money to […]
THE HILL: National Flood Insurance Program Needs Long-Term Reauthorization to Address Key Challenges
As the House Financial Services Committee Meets this week to discuss reauthorizing the National Flood Insurance Program (NFIP), there is a lot at stake. The NFIP, on which 5 million Americans depend for protection from flooding, began with the best of intentions — reducing the burden on federal taxpayers stemming from flood relief while providing […]
The Hill: Shutdown Should Focus Attention on Common-Sense Flood Insurance Reform
As the partial federal government shutdown drags on, numerous agencies have closed shop or are operating with a skeleton crew. That includes the National Flood Insurance Program (NFIP), the government-run insurer intended to help Americans recover from floods. With more than 5.1 million policies providing over $1.3 trillion in coverage, the NFIP is by far […]
Privatization Can Help Save the National Flood Insurance Program
As Congress looks for a way to put the program back on track, creating a larger role for the private market should be central to any reform plan. This piece can be read in its entirety at Inside Sources. Privatization Can Help Save the National Flood Insurance Program
The National Flood Insurance Program Needs Reform
The National Flood Insurance Program (NFIP) was reauthorized as it approached its funding deadline. NFIP has been there many times before. Unfortunately, reauthorization comes without much needed reform. NFIP insures five million flood insurance policies. Over the years, NFIP has had difficulty setting rates high enough to cover the claims that policy holders file in […]
Daily Caller: A Bit Of Insanity: Government Spending On Flood Insurance
When flooding occurs at least 26 times per year on more than 10% of a community’s usable land, it’s called “chronic inundation.” To attempt the cleanup and restore an area subject to chronic inundation area would act out Albert Einstein’s definition of insanity. As stated: “Insanity is doing the same thing over and over and expecting […]