Reforming the NFIP
Tuesday June 02, 2015
The NFIP is broke, or so I say in my new article in The Conversation:
Floodwaters continue to rise, so it will be days if not weeks before we can calculate the final costs, both in terms of life and property. But regardless, many will be turning to the federal government’s National Flood Insurance Program (NFIP) for help – it’s the only way to insure a property against damage from flooding. Unfortunately, it’s broke – and its very nature encourages development that makes each flood more damaging than the last.
Many thanks to Bret M. Webb for his comments an early draft of this.
Read the rest.
Image by U.S. Geological Survey / Flickr.