flood insurance

Politics
2:26 am
Thu February 27, 2014

FEMA Flood Insurance Law Faces Partial Repeal Over Premiums

Levees, like this one in New Orleans, must be certified by the U.S. Army Corps of Engineers before appearing on federal flood maps. This change has resulted in higher flood insurance premiums in some areas.
Mario Tama Getty Images

Originally published on Thu February 27, 2014 9:38 am

The House is expected to vote as early as next week to partially repeal a 2012 law that overhauled the National Flood Insurance Program, which is tens of billions of dollars in debt.

The law was meant to make people living in flood-prone areas foot more of the insurance bill. But lawmakers didn't realize how many homeowners would be affected — or how hard they'd be hit.

You can find some of those homeowners in Bayou Gauche, about 30 miles west of New Orleans.

Read more
The Jim Engster Show
10:32 am
Wed January 22, 2014

WEDNESDAY: Louisiana Department of Insurance Commissioner Jim Donelon; John S. Treen

Louisiana Department of Insurance Commissioner, Jim Donelon, talks with Jim about surviving prostate cancer, the Affordable Care Act, and flood insurance, and John S. Treen joins Jim to discuss his special election run in 1989 against former Ku Klux Klansman David Duke, and about Sen. David Vitter running for governor.


Politics
2:03 am
Wed January 1, 2014

Federal Flood Insurance Program Drowning In Debt. Who Will Pay?

Even when a flood obliterates homes, as Superstorm Sandy did in 2012 in the Rockaway neighborhood of Queens, N.Y., the urge to rebuild can be strong.
Spencer Platt Getty Images

Originally published on Wed January 1, 2014 10:42 am

Millions of American property owners get flood insurance from the federal government, and a lot of them get a hefty discount. But over the past decade, the government has paid out huge amounts of money after floods, and the flood insurance program is deeply in the red.

Congress tried to fix that in 2012 by passing a law to raise insurance premiums. Now that move has created such uproar among property owners that Congress is trying to make the law it passed disappear.

Read more
Flood Protection
2:27 pm
Sun August 11, 2013

Louisiana Lawmakers Push FEMA To Revamp Flood Maps

Originally published on Fri August 9, 2013 10:05 am

Louisiana delegation wants changes in FEMA flood maps they say could cause premiums to skyrocket.

Louisiana public officials are launching a bipartisan battle to revamp proposed changes to the National Flood Insurance Program. The administrator evaluating the objections was taken on a helicopter tour of coastal regions possibly facing steep premium hikes.

Read more
Environment
4:00 pm
Thu August 8, 2013

ProPublica: FEMA Flood Maps Fraught with Error

A new FEMA flood map of Burnet County, Texas has mistakenly placed the house marked 501 shown here in a high-risk flood area.
Credit Burnet County Environmental Services Department via ProPublica

The Federal Emergency Management Agency has issued new preliminary flood maps.

Louisiana’s delegation in Washington, D.C. is griping over FEMA’s disregard of local flood protection measures when it drew them.

Meanwhile, unless Congress succeeds in passing a delay, federal flood insurance rates are set to go up dramatically as soon as October. Many in Louisiana are facing increases of 20 percent or more.

And, as ProPublica reporter Theo Meyer has found, some may end up paying for insurance they don’t need.

Read the ProPublica article: Using Outdated Data, FEMA Is Wrongly Placing Homeowners in Flood Zones

Share your story: Tell ProPublica About Flood Map Problems Where You Live

Read more
FEMA Flood Maps
12:18 pm
Tue July 16, 2013

US Senate Committee Reconsiders Flood Insurance Hikes

Louisianians may find solace from impending increases in flood insurance rates as Sen. Mary Landrieu’s bill to prevent those hikes heads to the Senate Appropriations Committee for consideration at its Thursday meeting.

Landrieu chairs the Homeland Security Subcommittee of Appropriations, which passed the bill to the larger body Tuesday.

The measures are included in the Homeland Security Appropriations bill for next fiscal year. Called the Strengthen, Modernize and Reform the National Flood Insurance Program, or SMART NFIP, the bill would postpone parts of last year’s Biggert-Waters Act.

Read more
Planet Money
10:39 am
Thu January 24, 2013

Why Is The Government In The Flood Insurance Business?

Hurricane Betsy hit the Gulf Coast in 1965.
Horace Cort AP

Originally published on Thu January 24, 2013 12:19 pm

There's a quick, one-word explanation for why the federal government started selling flood insurance: Betsy.

Hurricane Betsy, which struck the Gulf Coast in 1965, became known as billion-dollar Betsy. Homes were ruined. Water up to the roofs. People paddling around streets in boats. Massive damage.

This would be the time when you'd expect people to be pulling out their flood insurance policies. But flood insurance was hard to come by. You could get fire insurance, theft insurance, car insurance, life insurance. Not flood.

Read more