“…Hurricane Harvey—which is estimated to have caused $65 billion to $75 billion in damage in Texas, according to AIR Worldwide—is only the latest in a string of disasters that highlight two major issues in U.S. flood insurance: the underestimated geographical spread of the threat, and the millions of uninsured and underinsured Americans who don’t even know they’re at risk.”

In this commentary from Insurance Journal  the author illustrates many misconceptions of what areas are vulnerable to flooding, who needs flood insurance, and what is an adequate amount of coverage.  The current legislation in the Senate relies heavily on private insurance, but for it to be successful, it must be affordable and available to a variety of risk profiles.  In other words, private insurers cannot “cherry-pick” only the lowest risk policies leaving other high risk policies to the NFIP.

Read the full commentary:  insurancejournal.com-Keeping Flood Insurance Above Water Commentary Jan 25 2018

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