Should the Federal Government Be Subsidizing Flood Insurance ...

From: Moneyland - 5:45am - October 30, 2012

As Hurricane Sandy continues to batter the Eastern seaboard of the United States, one thing is for certain: Insurance companies will be ponying up for billions of dollars in property damage caused by high winds.? Last summer?s Hurricane Irene cost insurance providers more than $4 billion in damage claims, with flood insurance payments totaling nearly $1.3 billion. But what many Americans may not know is that this $1.3 billion was a bill footed by the federal government, which underwrites the vast majority of flood insurance across the nation. Historically, insurance companies have been wary of offering flood insurance to homeowners because the risks associated with flood insurance are difficult to forecast, so any private insurance that had been offered was prohibitively expensive for average homeowners. But in the 1960s, frequent flooding of the Mississippi River was driving up t...

Continue reading this article ?

Source: http://ewallstreeter.com/should-the-federal-government-be-subsidizing-flood-insurance-5749/

Espn College Football Eddie Murphy died Suzanne Barr Clint Eastwood speech Maria Montessori clint eastwood Julian Castro