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Except flood insurance doesn't appear to be economically viable in those areas >More than 861,000 of them do not have flood insurance. And for homes in those c
by okmokmz 8y ago
Except flood insurance doesn't appear to be economically viable in those areas
>More than 861,000 of them do not have flood insurance. And for homes in those counties that aren't designated flood zones, the numbers are even worse.
>Those four counties have a population about 5 million people, and include the Florida Keys, Miami, Fort Lauderdale and Naples.
>And there's still cause for concern about homes and businesses covered by flood insurance.
>The National Flood Insurance Program, which is part of FEMA, is chronically underfunded.
>A series of major storms that caused floods in the last 12 years, including Hurricane Katrina in 2005 and Superstorm Sandy in 2012, has left the program roughly $25 billion in debt and with limited borrowing resources.
>Its financial woes are expected to be compounded by the flooding that devastated Houston and the Texas Gulf Coast after Hurricane Harvey.
>Irma will only add to the problem. [1]
[1] https://money.cnn.com/2017/09/08/news/economy/flood-insurance-irma-florida-miami/index.html https://money.cnn.com/2017/09/08/news/economy/flood-insuranc...
- h4b4n3r0 8y ago>> Except flood insurance doesn't appear to be economically viable in those areas That’s by design. They don’t want you to build there.