As of the end of physical year 2008, the US Flood Insurance Program owes the Treasury $8 billion that regulators believe it will never be able to pay back.

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Flood Insurance Is $8 Billion In The Red


Posted on Aug 10, 2010

The National Flood Insurance Program insures areas of high risk in coastal communities. Without this insurance, construction in these areas would be reduced. According to the Houston Chronicle article linked below, Texas receives more of this governement insurance program than any other state. The article describes the problems with the flood insurance program and identifies those with financial interests in seeing that the program continues.

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