CSPAN Washington Journal Stephen Ellis Discusses The National Flood Insurance... June 19, 2017
Determined there was not enough affordable, of private Flood Insurance. There was a perceived market failure, so they created this program that the taxpayer would provide this insurance to people, and also if you lived in a high risk area, what they floodplain,00year there was a 1 chance in a given year it would flood, then you had a federally backed mortgage. You were required to purchase Flood Insurance. 5. 1 millionhey were policies in the Flood Insurance program. It brings in about 3 billion in premium, but it is 24. 6 billion in the hole. Ands quite a bit in debt has significant problems ...