Insurers, property owners tally Sandy’s damage
Eli Lehrer, president of R Street, a think tank advocating limited government, said billions of dollars in claims could drain the flood-insurance program of its reserves, forcing it to speed up efforts to collect more money from premiums.
“FEMA now has an additional incentive to raise premiums as fast as possible as much as possible for properties that are subsidized,” Lehrer said. “Without this, there might have been efforts to slow things down as much as the statute will allow. Now, the simple need for money will give FEMA a very big incentive to speed things up as much as the law allows.”