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
Florida’s Tourism Development Tax
By Erick Winterkamp Policymakers experience conflicting pressure concerning taxation. Corporations want taxation on competing products and industries, government officials often need more taxation to cover rising expenses, and the public would rather taxes be levied on anyone but themselves. Balancing these opposing factors, along with elected officials’ desire for reelection, results in a myriad … Continue reading Florida’s Tourism Development Tax
Florida’s Dysfunctional Property Insurance System
By Matt Kelly Many readers will remember the hurricane season of 2004 as a chaotic time to be a Florida resident. The Sunshine State received four torrential storms that year, causing $45 billion in losses. School was cancelled, streets were covered with debris, and 37 lives were lost. Since 2005, Florida has experienced a nine-year … Continue reading Florida’s Dysfunctional Property Insurance System