Speaking in Miami Beach at the Insurance-&Risk-Linked Securities Conference this week, Roy Wright, who oversees the National Flood Insurance Program, says if you live in Florida, you need flood insurance.

The article in the Miami Herald gives these staggering statistics:

“So far, flood claims for Irma in the state have amounted to $850 million — about 28,000 in total were filed. The payouts included about $100 million in the Florida Keys, $30 million in Miami-Dade County and $7 million in Broward County, said spokesman John Mills. Jacksonville received more than $130 million.

Private insurers paid off another 900,000 claims for other damages, with just over 1,700 in flood claims, valued at nearly $8 billion.”

In the interview with the Miami Herald, Wright outlined the NFIP goals for a major makover.

Read the full article here:  Flood maps may obscure Florida flood risk, says FEMA insurance chief _ Miami Herald

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