NFIP seems determined to thwart its own goals
The result of nationalizing the U.S. flood insurance industry has been a catastrophe all its own. Taxpayers have lost over $40 billion and counting.
Though not common knowledge, private insurers have a rich history of insuring the peril of flood in America. In fact, the National Association of (private) Flood Insurers, assumed 48% of America’s flood risk under the National Flood Insurance Program (NFIP) in December 1977.
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