NFIP in the Red

National Flood Insurance Program is in trouble according to hearings on the Hill today.  They have 18 billion dollar debt with taxpayers on the hook for approximately 5 million homeowners who have this federal flood insurance.

Experts stated the rates must increase so private insurance companies will offer flood insurance so the government won’t have so many policies. Here is another example of government involvement putting  taxpayers on the hook for billions just like the postal service.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: