Improving Flood Insurance, or Not
July 20, 2018
With the National Flood Insurance Program set to expire on July 31, Rep. Steve Scalise (R-LA) is fighting hard to prevent any reforms. Meanwhile, a group of state insurance commissioners has provided an update on what other members of Congress are doing. For help in deciding what to do, legislators might look to Issues, where a decision-sciences expert proposed that the program should base premiums on up-to-date assessments of the degree of flood hazard that homeowners face, and that it should incorporate incentives such as means-tested vouchers or low-interest loans to encourage homeowners of all income levels to undertake cost-effective protective measures.