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cover of episode Why the government's flood insurance program is underwater

Why the government's flood insurance program is underwater

2024/11/13
logo of podcast The Indicator from Planet Money

The Indicator from Planet Money

Chapters

The National Flood Insurance Program (NFIP) is the primary provider of flood insurance in the U.S., but it is deeply in debt and frequently runs out of money, placing the burden on taxpayers.
  • NFIP is the main provider of flood insurance in the U.S.
  • The program is in debt and frequently runs out of money
  • Taxpayers are increasingly on the hook for payments to flooded homeowners

Shownotes Transcript

Major flooding events are increasingly common across the U.S., but homeowners looking for flood insurance will find few choices. The main providers of flood insurance is the U.S. government through the National Flood Insurance Program, or NFIP. But even though the NFIP is one of the only flood insurance games in town, it's drowning in debt. On today's episode, the NFIP's struggle to stay afloat. **Related listening: **Hazard maps: The curse of knowledge (Apple) / Spotify)) When insurers can't get insurance) Flood money) *For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org). Music by Drop Electric). Find us: TikTok), Instagram), Facebook), Newsletter). *Learn more about sponsor message choices: podcastchoices.com/adchoices)NPR Privacy Policy)