Quincy Making Waves Coalition
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FLOOD INSURANCE BECOMES A POWERFUL POLITICAL TOOL IN LOUISIANA
| July 30, 2014 | Homeowners Insurance, Insurance News Articles, Latest Insurance News
Flood insurance is beginning to become a political platform in the U.S. It has been several months since Congress took action on the cost of flood protection, introducing new rules that delay rate hikes for a time. This has provided some homeowners with a reprieve from higher insurance rates, but coverage will eventually become significantly more expensive, especially as flood maps continue to be redrawn. Politicians are now beginning to use this issue to their advantage.
The Truth About Flood Insurance by George Kasimos of StopFemaNow.com
Published on September 15, 2013
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5.5 million flood policy owners
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37 out of 45 years the NFIP has been in existence it has made a profit which was transferred to the general fund
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Add all profits and disasters and the NFIP should be 6 billion in the black - FEMA claims that NFIP is 25 billion in the red!
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Fed government has raided NFIP just as it does Social Security
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30% of our policy $$ goes to the insurance carrier for NO RISK
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Premium $1,000 - $300 profit Premium $10,000 - $3,000 profit - NO RISK .. WHY?
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Flood Maps need to be corrected
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40% of required properties are not paying .. WHY
Florida Flood Insurance Adjuster discusses NFIP
Published on Jan 14, 2013
Thom Hartmann talks with a caller who works in Florida as an insurance adjuster, he explains how national flood insurance works.
FBI Investigates FEMA Flood Map Changes After NBC News Report
By Bill Dedman
FBI agents are interviewing employees at FEMA in an investigation of unusual changes in federal flood insurance maps that benefited oceanfront condo buildings with a history of flooding, according to sources familiar with the investigation.
The investigation follows a report by NBC News documenting more than 500 instances in which FEMA has remapped waterfront properties from the highest-risk flood zone, saving the owners as much as 97 percent on the premiums they pay into the financially strained National Flood Insurance Program.