Davidson Realty, Inc.

Flood Insurance – A Changing Landscape

August 22, 2018

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Posted by in News

The National Flood Insurance Program operated by FEMA, currently owes

the U.S. Treasury over $25B and the debt is growing. Here in Northeast

Florida we are seeing the threat of flood increase from the density of

population near the shore, a rising river and storms moving closer to us.

The NFIP continues to receive legislative extensions with rates and

surcharges routinely tacked on. Sooner or later we can expect this program

to hit the wall and incur a major renovation in order to survive. Fortunately,

private insurance carriers have taken notice of these events and they are

beginning to take action.

 

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