Federal Flood Insurance Rebuilds Homes Over and Over, Trapping Residents in Flood-Prone Areas, Report Says
Jan 17, 2024
In this Saturday, Aug. 5, 2017, file photo people stand outside their home in floodwaters in New Orleans. (Brett Duke/NOLA.com The Times-Picayune via AP) At a Glance The federal insurance program provides roughly $1.25 trillion in coverage to 5 million policy holders.The program was adopted in the 1970safter some homeowners became uninsurable in the private sector.Many of 30,000properties identified have flooded five times every two to three years, on average. Homes destroyed by floods in high-risk areas are frequently rebuilt...