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re: FEMA raising flood insurance rates in Southwest Florida, blames bad Hurricane Ian rebuild
Posted on 3/30/24 at 7:11 am to Tarps99
Posted on 3/30/24 at 7:11 am to Tarps99
NFIP is government backed flood insurance that is subsidized below private market rates. NFIP has government controls on how it can calculate risk and also on the policy rates and coverage amounts. NFIP will state that it's rates are actuarial sound - but that's based on constraints like $250k max coverage that the private market does not have to follow.
If you're against government subsidies then you should be for penalties that add additional risk and policy exposure to the NFIP.
If you're against government subsidies then you should be for penalties that add additional risk and policy exposure to the NFIP.
1
Posted on 3/30/24 at 7:37 am to LStU
quote:
If you're against government subsidies then you should be for penalties that add additional risk and policy exposure to the NFIP.
Yes, building stronger communities also requires smarter building. So if the county fudged the numbers to okay repairs when the regulations said to tear down so be it.
If you flood, once that could be sign of an alarm, twice could be a bad omen for things to come, and any more floods should be a sign to tear it down and rebuild higher.
Well I will just put this out there in some places in southwest Florida some of those areas looked like they could easily flood when compared to Southeast Louisiana. There were waterways without floodgates ushering in water to places that were seemingly too low to build houses flat to the ground.
At least now in Southeast Louisiana there are levees and floodgates to keep the water out hopefully to stop the next one.
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