Flood Insurance Program Nearly Underwater and Drowning In Red Ink

Flood Insurance Program Nearly Underwater and Drowning In Red Ink

Flood insurance in America is under scrutiny, and most of the effort is aimed at dealing with what the federal government calls the “severe repetitive loss property.” Those are homes which have cost taxpayers cumulative payouts which exceeding what those structures are actually worth – and often by many thousands of dollars. It’s thought that across the nation there are more than 11,000 properties – mostly in coastal or low-lying areas – which are under…

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Is President Trump Planning Radical Flood Map Changes?

Is President Trump Planning Radical Flood Map Changes?

Among other cost-cutting proposals, Prеѕidеnt Dоnаld Trump’s first рrороѕеd budgеt inсludеѕ a mеаѕurе aimed at ѕсrарping аll funding fоr thе FEMA Flood Insurance Flооd Hаzаrd Mapping Prоgrаm. As рrорosed, the Trumр аdminiѕtrаtiоn plans to сut $190 million in funding fоr uрdаting U.S. maps for flооd-рrоnе аrеаѕ, and some experts are saying that move wоuld triggеr higher inѕurаnсе rаtеѕ or actually encourage hоmеbuilding in riѕkу lосаtiоnѕ. J. Robert Huntеr, the dirесtоr of inѕurаnсе fоr thе Cоnѕumеr Fеdеrаtiоn…

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Congress At War Over National Flood Insurance Program

Congress At War Over National Flood Insurance Program

Congress Set to Battle Over National Flood Insurance Program The Great Midwest Flood of 1993 was a horrific event.  It ranks as one of the most devastating flood disasters in U.S. history. The flooding started during May 1993 and dragged on until September. In some of the worst-hit areas, the floodwaters took until October to recede and more than a thousand levees failed when waters exceeded worst-case design specs. In parts of Missouri flood waters…

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