The National Flood Insurance Program: Financial Soundness and Affordability

Congressional Budget Office

No 53028, Reports from Congressional Budget Office

Abstract: The National Flood Insurance Program (NFIP) offers flood insurance and promotes floodplain management. CBO’s analysis of 5 million policies in effect in August 2016 showed that the NFIP’s expected one-year costs exceeded annual premiums (including fees and assessments paid by policyholders) by $1.4 billion. That shortfall stemmed primarily from premiums’ falling short of expected costs in coastal counties, which account for three-quarters of all NFIP policies nationwide.

JEL-codes: G22 H42 Q54 Q58 (search for similar items in EconPapers)
Date: 2017-09-01
New Economics Papers: this item is included in nep-agr, nep-env and nep-ias
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Citations: View citations in EconPapers (12)

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