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Politics : Politics for Pros- moderated
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To: Ilaine who wrote (68369)9/9/2004 12:01:01 PM
From: Road Walker  Read Replies (3) of 793958
 
re: I think flood insurance is subsidized by the federal government. Not sure, we don't live in a flood zone, but had to get a certificate to that effect when buying insurance for our own house.

fema.gov
"The NFIP is self-supporting for the average historical loss year, which means that operating expenses and flood insurance claims are not paid for by the taxpayer, but through premiums collected for flood insurance policies. The Program has borrowing authority from the U.S. Treasury for times when losses are heavy, however, these loans are paid back with interest."
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