In the News
Hurricanes have failed to spur flood insurance reform
Currently, the National Flood Insurance Program has about $10 billion in borrowing authority remaining, and Hurricane Florence isn’t likely to consume all of the funding, said R.J. Lehmann, director of finance, insurance and trade policy, for the R Street Institute, a Washington think tank.
“They are prepared to handle this storm,” Lehmann said. “But if we have multiple storms — there are others out there in the Atlantic Basin — things could get a little more dicey.”