Gina Reyes The National Flood Insurance Program (NFIP), implemented in 1968 to address a market failure in the flood insurance sector, has been the subject of scrutiny following hurricanes Harvey and Irma. Increasing the scope of the private sector has often been cited as a potential solution to the NFIP’s pitfalls. However, there are challenges … Continue reading Challenges to Privatizing Flood Insurance
After this Hurricane Season, We Need to Rethink Flood Insurance
Gina Reyes With the national spotlight on flooding caused by hurricanes Harvey and Irma, the National Flood Insurance Program (NFIP) has come under scrutiny. The federal program primarily focuses on offering flood insurance coverage and reducing the impact of flood damage. The NFIP was established in 1968 to counteract a market failure on the … Continue reading After this Hurricane Season, We Need to Rethink Flood Insurance
Some Regulations Hinder Storm Recovery
By Chad Thomas and Matt Kelly One common policy response to hurricanes is to strengthen building codes. Former FEMA chairman Craig Fugate blames inadequate state and local building codes, rather than inept federal government disaster relief efforts, for the woeful response to Hurricane Katrina. After Hurricane Andrew in 1992, building code enforcement was enhanced in … Continue reading Some Regulations Hinder Storm Recovery