Wind down the National Flood Insurance Program
What the document says“The NFIP should be wound down and replaced with private insurance starting with the least risky areas currently identified by the program.”
The National Flood Insurance Program provides federally backed flood cover where private insurers generally will not. The chapter says its subsidies encourage development in flood zones and increase potential losses to the program and the taxpayer, and asks for it to be wound down and replaced by private insurance, starting with the least risky areas.
What the document actually says“The NFIP should be wound down and replaced with private insurance starting with the least risky areas currently identified by the program.”
Close down the federal flood insurance plan. Let private firms cover those homes instead. Start with the safest areas.
Homes in flood areas are hard to insure. So the government sells the cover itself. The book says that helps people build in risky places. It wants private firms to take over.
No action is recorded against this proposal. That is not evidence that none has been taken. See what the tracker does not yet cover.