A good article, which questions many questionable aspects of this pseudo-socialist program, which started in 1968, after a horrendous Hurricane, much like Harvey. Congress then and now has done only a fair job of designing and re-designing this subsidization that has led to adverse selection against responsible taxpayers who are repeatedly bailing out irresponsible property owners.
Will the impact of Harvey FINALLY cause Congress to face up to its failures and drastically change this loss-leader subsidization program? Stay tuned!
Now, ‘Pass the Buck City’ is in the minds of Libitterals. They offer no proof of their forecasts; e.g. Global Warming will raise sea levels by 2014 to flood many coastal cities.
With the NFIP bill ahead, and TWO major hurricanes causing floods, they will have it fresh in their memory, and will act upon the Will of The People who don’t want to subsidize adverse selection used by coastal property owners. If you live on the coast, or have coastal vacation property like hypocrite, liar Al Gore, look for your flood rate to rise more than sea levels did.
I would love to see flood go private, but there is no “Will of the People.” Have you, outside of your insurance and conservative-leaning bubble heard ANYONE discuss flood insurance premiums, the morality of the government vs. the private market offering flood, people in low-risk flood-plains subsidizing those on the coast, etc?
BTW, your point about coastal cities flooding due to sea levels rising is 100% absolutely true. Flooding doesn’t mean “flooded at all times”, it means flooding-prone. Go ask the locals of cities up and down the coast how they feel about heavy rainfall and storm surges. It doesn’t mean that sea levels are going to rise 10 feet and put everything under water. It means that every time the crap hits the fan, more of it gets everywhere and it becomes a bigger and bigger problem.
Why bring up Al Gore and make this into yet another name-calling fest? Just stick to your points and half the time you may be arguing for something worthy of discussion. When you trail off into demonizing liberals, and notable liberals, any semblance of a message you have gets lost in the garbage.
I have a lot more insight into NFIP than you’d ever know in your basement, dedicating your time to trolling conservatives posts that provide insight into insurance issues. Many of my opinions on NFIP are accepted by insurance execs and people who have opined similarly. What have YOU ever contributed to solving this recurring problem? I see NOTHING of substance in ANY of your posts, only trolling.
I don’t sell Flood Insurance and I live on top of a large hill. I have no use for it.
Your self-puffery is comical. Nobody cares what you know or don’t know on this subject. It doesn’t matter what industry execs know or care about. My post wasn’t judging your knowledge or lack thereof about the subject.
I was proven correct about congress kicking the can and passing the buck. Also correct that there would be no “Will of the People” outcry regarding flood insurance. You were deluding yourself and trying to delude others into thinking that was going to happen. But then again, judging by your 8 downvotes on your post, nobody is buying what the disinformation you are peddling.
Even if you have a lot of knowledge about the NFIP (the jury is still out on that one), your twisted opinions about literally every subject would make it impossible for me to trust any position you would take, just out of principle.
BTW, did you see God Emperor Trump working with Nancy Pelosi and Chuck Schumer again? Sounds like Amnesty may be on the table and not a mention of a wall in sight…weird! LOL
Doug you should educate yourself a little on floods and where they can occur. A lot of these people lived on a hill. Liberals keep pushing the waters rising theory and you will be forced to buy flood insurance like Obola forced everyone to buy health insurance. We all know how that lowered the avg families premium $2500 a year. Right?
September 6, 2017 at 11:12 am
Ophelia Gadbois says:
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Also, according to part of the analysis that could draw political interest along geographic lines, under the NFIP’s current structure, policyholders living in inland counties are subsidizing policyholders in coastal counties, particularly in southeastern and Gulf Coast states.
Actually, it isn’t. Read both actuarial societies statements of principles on risk classification.
You are confusing ‘subsidies’ with ‘pooling of risk’. BIG difference, and I know because I’ve written a detailed explanation of each and the implied difference.
A good article, which questions many questionable aspects of this pseudo-socialist program, which started in 1968, after a horrendous Hurricane, much like Harvey. Congress then and now has done only a fair job of designing and re-designing this subsidization that has led to adverse selection against responsible taxpayers who are repeatedly bailing out irresponsible property owners.
Will the impact of Harvey FINALLY cause Congress to face up to its failures and drastically change this loss-leader subsidization program? Stay tuned!
Fat chance. Pass The Buck City up ahead. Population: US Congress.
Now, ‘Pass the Buck City’ is in the minds of Libitterals. They offer no proof of their forecasts; e.g. Global Warming will raise sea levels by 2014 to flood many coastal cities.
With the NFIP bill ahead, and TWO major hurricanes causing floods, they will have it fresh in their memory, and will act upon the Will of The People who don’t want to subsidize adverse selection used by coastal property owners. If you live on the coast, or have coastal vacation property like hypocrite, liar Al Gore, look for your flood rate to rise more than sea levels did.
Clarification: ‘they’ in last paragrpah is US Congress.
I would love to see flood go private, but there is no “Will of the People.” Have you, outside of your insurance and conservative-leaning bubble heard ANYONE discuss flood insurance premiums, the morality of the government vs. the private market offering flood, people in low-risk flood-plains subsidizing those on the coast, etc?
BTW, your point about coastal cities flooding due to sea levels rising is 100% absolutely true. Flooding doesn’t mean “flooded at all times”, it means flooding-prone. Go ask the locals of cities up and down the coast how they feel about heavy rainfall and storm surges. It doesn’t mean that sea levels are going to rise 10 feet and put everything under water. It means that every time the crap hits the fan, more of it gets everywhere and it becomes a bigger and bigger problem.
Why bring up Al Gore and make this into yet another name-calling fest? Just stick to your points and half the time you may be arguing for something worthy of discussion. When you trail off into demonizing liberals, and notable liberals, any semblance of a message you have gets lost in the garbage.
I have a lot more insight into NFIP than you’d ever know in your basement, dedicating your time to trolling conservatives posts that provide insight into insurance issues. Many of my opinions on NFIP are accepted by insurance execs and people who have opined similarly. What have YOU ever contributed to solving this recurring problem? I see NOTHING of substance in ANY of your posts, only trolling.
I don’t sell Flood Insurance and I live on top of a large hill. I have no use for it.
Your self-puffery is comical. Nobody cares what you know or don’t know on this subject. It doesn’t matter what industry execs know or care about. My post wasn’t judging your knowledge or lack thereof about the subject.
I was proven correct about congress kicking the can and passing the buck. Also correct that there would be no “Will of the People” outcry regarding flood insurance. You were deluding yourself and trying to delude others into thinking that was going to happen. But then again, judging by your 8 downvotes on your post, nobody is buying what the disinformation you are peddling.
Even if you have a lot of knowledge about the NFIP (the jury is still out on that one), your twisted opinions about literally every subject would make it impossible for me to trust any position you would take, just out of principle.
BTW, did you see God Emperor Trump working with Nancy Pelosi and Chuck Schumer again? Sounds like Amnesty may be on the table and not a mention of a wall in sight…weird! LOL
http://www.denverpost.com/2017/09/14/colorado-floods-2013-photos/
Doug you should educate yourself a little on floods and where they can occur. A lot of these people lived on a hill. Liberals keep pushing the waters rising theory and you will be forced to buy flood insurance like Obola forced everyone to buy health insurance. We all know how that lowered the avg families premium $2500 a year. Right?
Also, according to part of the analysis that could draw political interest along geographic lines, under the NFIP’s current structure, policyholders living in inland counties are subsidizing policyholders in coastal counties, particularly in southeastern and Gulf Coast states.
policyholders subsidizing other policyholders is how insurance works
LOL. Seriously. That is literally how insurance functions.
Actually, it isn’t. Read both actuarial societies statements of principles on risk classification.
You are confusing ‘subsidies’ with ‘pooling of risk’. BIG difference, and I know because I’ve written a detailed explanation of each and the implied difference.