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Why the Government Sells Flood Insurance

Taxpayers will cover a large part of the cost of the damage from the record-breaking hurricanes of the 2017 Hurricane Season. This causes many people to ask: Why? The answer...
September 20, 2017

Taxpayers will cover a large part of the cost of the damage from the record-breaking hurricanes of the 2017 Hurricane Season. This causes many people to ask: Why? The answer: because many of the homes are insured by the federal government, under the National Flood Insurance Program (NFIP). Last Saturday, National Public Radio’s Scott Simon interviewed Stephen Mihm of the University of Georgia, who published a history of the National Flood Insurance Program for Bloomberg View. Listen to the interview here.

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