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Federal flood insurance encourages flooding victims to rebuild and risk repeated claims. Repeat claims are up 73% in the last 15 years.
One percent of flood insurance policyholders file more than a quarter of all claims against the National Flood Insurance Program. Since 1997, repetitive flooding claims involving the same properties increased by 73 percent. Taxpayers foot the bill for 40 to 45 percent of the insurance program, which is running an $18 billion deficit thanks to expensive disasters like Hurricane Katrina.
Today’s video has more details. What do you think?
: LousianaJustice.net: “Infographic of Louisiana Flood Insurance” More
: Heritage Foundation: “Brief on Reauthorize and Reform the Flood Insurance Program” More
: NOAA: “Constantly updated map of current U.S. floods” More
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