Supplementary Bottom Line – if people and businesses are going to continue to build in flood prone areas and are required to obtain flood insurance from the gov’t, the gov’t needs to rate the policies properly so they don’t run a deficit.
Corollary to Supplementary Bottom Line – if people and businesses continue to build in flood prone areas, voters need to vote out of office any political leaders who allow it to happen in their individual municipalities / communities.
Almost all the places with large number of flood insurance policies are GOP territory. There is no way that the GOP is going to tell its base “we are doubling your annual NFIP premium to make NFIP break even”. In fact, if the GOP did that, then there would be a crash in the value of the real estate, which would really anger their constituents. It is more likely the GOP would implement strict gun control than to make NFIP policies pay full freight. You need to get in touch with political reality.
Well, the NFIP just about doubled the premiums. Homeowners are dropping or lowering their flood ins. because they cannot afford it. Congress won’t tackle this NFIP reorg. as they said they would. Flood ins. has to be affordable so more will buy it and keep the NFIP viable, protect homes, and keep jobs for the NFIP and FEMA people.
Bottom line, people and businesses need to stop building in flood prone areas. This helps, but probably not enough.
Supplementary Bottom Line – if people and businesses are going to continue to build in flood prone areas and are required to obtain flood insurance from the gov’t, the gov’t needs to rate the policies properly so they don’t run a deficit.
Corollary to Supplementary Bottom Line – if people and businesses continue to build in flood prone areas, voters need to vote out of office any political leaders who allow it to happen in their individual municipalities / communities.
Almost all the places with large number of flood insurance policies are GOP territory. There is no way that the GOP is going to tell its base “we are doubling your annual NFIP premium to make NFIP break even”. In fact, if the GOP did that, then there would be a crash in the value of the real estate, which would really anger their constituents. It is more likely the GOP would implement strict gun control than to make NFIP policies pay full freight. You need to get in touch with political reality.
Well, the NFIP just about doubled the premiums. Homeowners are dropping or lowering their flood ins. because they cannot afford it. Congress won’t tackle this NFIP reorg. as they said they would. Flood ins. has to be affordable so more will buy it and keep the NFIP viable, protect homes, and keep jobs for the NFIP and FEMA people.