National Flood Insurance: The End of a Partnership?
Publication Date: November 1977
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Thomas R. Ascik
Research Area: Business
Keywords: Economy
Type: Report
Abstract:
Since 1969, home owners living in flood-prone areas of the country have been able to buy flood insurance from the National Flood Insurers Association, a group of private insurance companies, which is able to-offer low premiums on flood insurance because of a partial subsidy by the Department of Housing and Urban Development. This unique government-industry partnership, which expires December 31, has proved an unqualified success, but now is threatened with extinction as HUD seeks to eliminate the private companies, and take over complete control of the program.
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