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Flood insurance is a national program underwritten by FEMA. We have it on our house in inland New Jersey, because we're on a river. You may be thinking of the
by vonmoltke 7y ago
Flood insurance is a national program underwritten by FEMA. We have it on our house in inland New Jersey, because we're on a river.
You may be thinking of the windstorm insurance program. The state of Florida underwrites that, and started it as insurance of last resort after insurers started bailing following Andrew.
- Ididntdothis 7y agoPossible. The point was that people kept building mansions in clearly unsuitable areas and when the private market wouldn’t insure them they made the government do so.