flood insurance subsidies News

Why Federal Flood Program Is Sinking Deeper Into Debt: CBO Report

The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is currently on a path that will lead …

Why Now Is Time to Privatize Flood Insurance: a Candid Conversation with Hiscox USA CEO Walter

The private insurance industry is ready and anxious to take on flood risk, and politicians should reform the federal program now to take advantage of this interest, according to the U.S. executive of a leading specialty insurer. “I think there …

With Premium Refunds in Process, Washington Criticism of Flood Insurance Ebbs

Insurance agent, insurance carrier and real estate lobbyists praised federal regulators in charge of the National Flood Insurance Program (NFIP) last week on Capitol Hill, agreeing that the process of issuing flood insurance premium refunds and restoring premium subsidies is …

Bill to Delay Flood Insurance Rate Hikes Stymied by Shutdown Politics

A bipartisan proposal to delay federal flood insurance rate hikes that took effect Tuesday is being stymied by a bitter congressional dispute over President Barack Obama’s signature health care law, Sen. Bill Nelson said. Nelson, D-Fla., along with U.S. Sens. …

Mississippi Officials Seek Ways to Stem Flood Insurance Rate Hikes

Calling pending flood insurance increases “drastic and draconian,” U.S. Rep. Steven Palazzo of Gulfport met Wednesday with state and local leaders to discuss ways to stem the tide of rising insurance rates that are due to kick in as early …

Coastal Lawmakers Seek Delays in Flood Insurance Changes, Rate Hikes

Just a year after Congress imposed significant changes in the government’s oft-criticized flood insurance program, howls of protest from homeowners facing higher premiums have coastal lawmakers pressing for delays that would preserve below-cost rates for hundreds of thousands of people …