Flood Insurance Reauthorization | James Howard Flood Insurance Reauthorization | James Howard

James Howard A Mathematician, a Different Kind of Mathematician, and a Statistician

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Flood Insurance Reauthorization

So it’s time to talk about flood insurance cancellation again. Again. Again.

Authorization for the National Flood Insurance Program is set to expire on July 31. This happens every couple of years, but the program continues to be necessary to manage short-term risk of flooding, especially in the middle of the hurricane season.


The real problem is that Congress seems unwilling to actually reauthorize the program, mostly because it is too expensive. On the other hand, Congress is unwilling to introduce the reforms necessary to rein in costs of the program and ensure that it can be successful over the long term.

The Insurance Journal blog has a great summary of the current state of affairs with the NFIP, including tracking of several reauthorization measures.


But none of these measures seem set to be a real solution. The closest to a long-term solution is a standalone six-month reauthorization. Congress cannot keep kicking the can down the road without a plan for real reform.