In September 2017, Hurricane Irma’s powerful storm surge flooded Florida homes, such as this one in Fort Myers, and damaged infrastructure. Spencer Platt Getty Images

From the Miami Herald Editorial Board:  “When it comes to flood-insurance, Florida is not getting its bang for the buck. We need a national disaster fund.”

“At the moment, the federal government tries to protect many Americans from the financial shock of flood damage through the National Flood Insurance Program (NFIP). But the program is in the crosshairs of a Congress that has temporarily extended the program six times, most recently until July 31. Facing a $25 billion deficit in the program, members say they’re tired of subsidizing coastal communities with cheap insurance and want big change.

“What they don’t say is that Florida is a donor state in the flood insurance program. Last year, Florida made up about 35 percent of NFIP policies. But we’ve received just over 7 percent of its payouts during the past 40 years.

“Truth is, Floridians are subsidizing repairs in states that suffer from river flooding — states that don’t participate in the program, yet regularly get emergency disaster funding.”

Read full article here:  miamiherald.com-Florida is not getting bang for its buck

Pin It on Pinterest

Share This