The federal government's flood insurance program has triggered a steady downpour of bad news, but private insurance isn't going to replace the troubled program anytime soon unless Congress makes some changes, experts said.
The National Flood Insurance Program is administered by FEMA, which works with more than 80 private insurance companies to offer flood insurance to business owners, renters and homeowners in areas where flooding is a distinct risk.
Currently, more than 5.5 million flood insurance policies are in place in 20,556 participating communities nationwide, but not everyone is eligible for the program.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
