Government Report: Flood Insurance: Public Policy Goals Provide a Framework for Reform: Congressional Testimony

Flood Insurance: Public Policy Goals Provide a Framework for Reform: Congressional Testimony

by Orice Williams Brown
Paperback, 21 pages, 2011, $20.00
ISBN: 1437988024

The National Flood Insurance Program (NFIP) has been on the high-risk list since 2006, when the program had to borrow form the U.S. Treasury to cover losses from the 2005 hurricanes.

The outstanding debt is $17.8 billion as of June 2011. This sizeable debt, plus operational and mgmt. challenges at FEMA, which administers NFIP, have combined to keep the program on the high-risk list. NFIP’s need to borrow to cover claims in years of catastrophic flooding has raised concerns about the program’s long-term financial solvency.

This testimony: (1) discusses ways to place NFIP on a sounder financial footing; and (2) highlights operational and mgmt. challenges at FEMA that affect the program. This is a print on demand report.

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