Almost all flood insurance is written through the federally subsidized and annual money-losing National Flood Insurance Program which is now $18 billion in debt and costing taxpayers more every year.

That program is about to lose its funding – it’s tied up with the bill that just failed in Congress about funding the federal government. That would make the purchase of new flood insurance policies impossible.

Perhaps it is time for the flood insurance program to lose its monopoly and be open to competition from insurers – for the benefit of the flood insurance buyers and the taxpayers.

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