How Washington lobbyists fought flood insurance reform. They have already maneuvered to slow lawmakers’ efforts to overhaul the National Flood Insurance Program and protect their industries’ profits.

Article today in Bloomberg News: Trump FEMA Chief Supports Cutting Coverage for Flood-Prone Homes

It sounds like the new FEMA chief is picking up on an old Heritage Foundation recommendation.

From the NRDC, this new report on the National Flood Insurance Program: Troubled Flood Insurance Program Traps Homeowners in Floodprone Areas .

The U.S. flood insurance program has repeatedly rebuilt some of the most flood-prone properties in the country, unintentionally setting a trap for owners of modest homes who would prefer to move out of harm’s way, according to a new national report from the Natural Resources Defense Council (NRDC). For every $100 the nation spends to rebuild homes with national flood insurance funds, FEMA spends just $1.72 to better protect people by moving them to safer, less flood-prone land.

NRDC’s Seeking Higher Ground, calls on Congress to adopt a series of climate smart reforms, including changing the mindset of “flood, rebuild, repeat,” to buying out homeowners who no longer want to rebuild on a vulnerable property.

From the Washington Post: The country’s flood insurance program is sinking. Rescuing it won’t be easy.  Some excerpts:

The extreme cases are only a fraction of the NFIP’s 5 million active policies, but they historically have accounted for about 30 percent of its claims. And while they’re a financial albatross for taxpayers, the claims are hardly the program’s only challenge.

The NFIP, which must be reauthorized by the end of September, is nearly $25 billion in the red — a debt that administrator Roy Wright says he sees no way to pay back.

“Only Congress can deal with that past loss,” Wright said last week . “What we’re focused on today is ensuring that going forward, we’re putting ourselves on a sound financial footing.”

Be sure to read the comments on this posting.

Update:  Another big problem for the NFIP is the Deluge of Repeat Claims. See this article on 7/25

For those of you concerned about the pending reauthorization of the National Flood Ins. Program, here are two articles of significance about it.

• Flood Program Reauthorization: Why Congress Must Act
• Turning A Blind Eye to NFIP’s Influence on Land Use

Flood Insurance: Comprehensive Reform Could Improve Solvency and Enhance Resilience.
GAO-17-425, April 27

• Report: http://www.gao.gov/products/GAO-17-425
• Highlights: http://www.gao.gov/assets/690/684355.pdf
• Podcast: http://www.gao.gov/multimedia/podcasts/684233

From EM magazine, FEMA’s Flood Insurance Program Is at the Center of the Climate Change Storm. With the authorization of the program set to expire on Sept. 30, 2017, flood insurance could become a hot-button legislative issue next year.

From the Village Voice (NYC), FEMA’s Flood Maps Protect Banks and Mortgages; People, Not So Much

See Eric Holdeman’s blog for details re: FEMA Changes Handling of Flood Insurance Claims, Appeals