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Sunday, 26th August 2007

Watery Marauders: How the Federal Government Retarded the Development of Private Flood Insurance

Watery Marauders: How the Federal Government Retarded the Development of Private Flood Insurance
Source: Competitive Enterprise Institute
From press release:

Floods destroy thousands of homes each year and, America’s primary way of paying for them, The National Flood Insurance Program (NFIP), has enormous problems. The program adds billions to the national debt each year and, quite often, pays to rebuild flood-prone houses and businesses time and again. Indeed, a CEI scholar says, the NFIP may actually reduce America’s resistance to flooding.

In the new CEI Issue Analysis, Watery Marauders: How the Federal Government Retarded the Development of Private Flood Insurance, Senior Fellow Eli Lehrer explains why the sorry state of flood insurance in this country stems from “government failure” rather than “market failure.”

+ Full Report (PDF; 225 KB)


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