FEMA’s National Flood Insurance Program (NFIP) substantially improved ratemaking by implementing Risk Rating 2.0 in 2021 but the program faces a potentially significant premium shortfall, a study by the U.S. Government Accountability Office (GAO) found. Published ahead of reauthorization of …
New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles include political and consumer resistance to full cost-based pricing …
Climate change and gaps in weather satellite data have been officially added to the list of high risks facing the federal government, a list that already includes the federal flood insurance program, Medicare and the Post Office. The Government Accountability …
