“From its inception and until recently, the best thing the National Flood Insurance Program had going for it was a run of good luck. Even with such good fortune, however, the program could not avoid running in the red on some occasions.”
– Sen. Richard Shelby, R-Ala., chair of the U.S. Senate Committee of Banking, Housing and Urban Affairs, discussing the need for National Flood Insurance Program reform.
Was this article valuable?
Here are more articles you may enjoy.
Five Reasons Why the US Escaped a Hurricane Landfall So Far This Year 
Onex CEO Sees Potential for More Insurance Deals After AIG Win 
NFIP Reauthorized With Passage of Funding Bill to End Government Shutdown 
Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa From This Issue
