WASHINGTON, DC — Nearly 50 years ago, Congress made big promises when it established the National Flood Insurance Program (NFIP).
With this year's bad hurricane season sending the already indebted program deeper into the red, it's clear those promises haven’t been kept.
The NFIP has proven an ineffective way to protect U.S. residents from flood losses. It’s high time to reevaluate the policy.
To give credit where credit is due, the initial concept of the program made some sense.
