(904) 940-5000
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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