Daily Caller: Goodbye Tropical Storm Colin, Hello CBO Study

Tropical Storm Colin left the southeastern states and headed toward the North Atlantic leaving up to 10 inches of rain, some wind damage and minor flooding. An estimate of damage to structures has yet to be completed, but compared with storms in recent years coastal residents have avoided hurricane-force devastation. Not so lucky are the residents exposed […]

ACI in the Courier-Post: Time to Reform the Federal Flood Insurance Program

Imagine a scenario in which New Jersey residents impacted by last month’s Nor’easter could not rely on flood insurance to help them rebuild their homes and businesses.  Unless Congress takes action soon, this nightmare scenario could become a reality. The struggling federal flood insurance system is a man-made disaster more than a decade in the […]

How to Prevent a Flood Insurance Crisis

Imagine a scenario in which New Jersey residents impacted by last month’s Nor’easter could not rely on flood insurance to help them rebuild their homes and businesses. Unless Congress takes action soon, this nightmare scenario could become a reality. The struggling federal flood insurance system is a man-made disaster more than a decade in the […]

Perverse Incentives for Flood Insurance Harm Taxpayers

The National Flood Insurance Program (NFIP) chronically subsidizes the flood insurance premiums for high risk homeowners, offering them premiums that are lower than the predictable payouts. These subsidized homeowners live in areas proven to be flood-prone. Their dwellings are repeatedly insured, then flooded, and then re-built with NFIP money. Since the re-build costs are much […]

ACI in Ocala Starbanner: Florida Prep for the Storm

While there is no preventative measure to stop a hurricane from reaching Florida, preparation is paramount and it requires going beyond buying generators and stocking up on batteries, bread and water. It requires financial preparation, which is something that Florida leadership has been focused on in recent years. In March, Citizens Property Insurance Corp., the […]

Welfare for the Rich: ACI in Real Clear Policy

Federal and some state insurance programs are out of control. A new study finds that Florida’s biggest homeowner’s insurer – state-run Citizens Property Insurance Corporation (Citizens) – has been disproportionately subsidizing rich coastal homeowners, compared to other homeowners in the state. The statistical study, conducted by professors at the University of Chicago and University of […]

ACI in the Hill’s Congress Blog: Disasters Could Be Less Disastrous

No region of the United States has a monopoly on catastrophes. Our communities are exposed to floods, hurricanes, tornados, earthquakes, droughts and fires. Some of us are more accustomed to seasonal flooding and high winds, and others to drought and fires. We never know precisely when they will arrive, but we know they will surely […]