ACI Joins Coalition Letter on Continuing Reforms on the NFIP

A group of think tanks wrote a letter to concerns about any effort to cancel the Trump administration’s Risk Rating 2.0 initiative, whose implementation already ​has been delayed​ until October 2021, or to otherwise reverse hard-won policies that bring the deeply indebted NFIP closer to fiscal solvency. You can download the letter here.

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 […]

Inside Sources: It’s Time for Congress to Reform the Flood Insurance Program

Lawmakers have until the end of May to debate meaningful reforms to the NFIP — the National Flood Insurance Program that has been in over $20 billion in debt (and growing) for many years. To fix that program, one positive legislative proposal would direct the NFIP to base premiums on a property’s replacement cost value, as […]

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 […]

The Hill: Fixing the National Flood Insurance Program

More than 5 million homeowners and businesses rely on the federally-run National Flood Insurance Program (NFIP) for protection from flooding, but with each passing year, the program’s design flaws and mismanagement are nudging it closer to insolvency. Despite repeated bailouts by Congress, the NFIP continues to lose an estimated $1.4 billion each year. The program’s […]

Real Clear Policy: NFIP and Subsidies for the Rich

When Congress created the National Flood Insurance Program (NFIP) in 1968, its goal was to provide affordable insurance to help communities rebuild after flooding. In the years since, the program’s finances have gone from bad to worse, and it now stands out as a model of flawed design and financial mismanagement. The program loses about […]

Cassidy and Menendez Compromise is a Bad Deal for Taxpayers and Consumers

The National Flood Insurance Program (NFIP) is in desperate need of reform to maintain its solvency, but a recent proposal in the Senate would only make the problem worse. It’s not hard to identify the source of the NFIP’s financial difficulties. The program simply doesn’t charge premium rates that fully reflect risks. That, coupled with […]

Morning Consult: Flood Insurance Reform is Long Overdue

Hurricane Florence displaced thousands of homeowners and destroyed entire cities along the Atlantic Coast. But because of outdated policies, most consumers who were forced to flee their homes will be unable to use flood insurance to recover and rebuild their property. In the absence of a major flood reform bill, this exact scenario will play […]