Flood zones corrupted by developers and colluding public officials
Washington Post Editorial: As hurricane seasons worsen, taxpayers subsidize people to live in risky areas Laurel Meadows after Debby Helene and Milton spotlight a federal flood insurance program drowning in debt By the Editorial Board October 18, 2024 at 4:59 p.m. EDT Hurricane Helene likely caused more than $30 billion worth of damage. Less than two weeks later, Hurricane Milton inflicted almost $50 billion more. With six weeks left in this hurricane season, the Small Business Administration’s disaster loan program is already out of money. And more tropical storms are swirling over the Atlantic. Who pays for all of this? Because private home insurers generally find this sector of the business unprofitable, the federal National Flood Insurance Program shoulders the burden of providing homeowners inundation coverage — and it has problems. The NFIP is managed by the Federal Emergency Management Agency — the same body fighting misinformation and dodging vigilantes as it tries t...