Editorial: Flood Insurance Premiums Challenge Buyers And Sellers

The Connecticut Law Tribune

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For nearly half a century, the federal government has backstopped the National Flood Insurance Program. The program helped real estate owners and assisted development in flood hazard areas by insuring homes and businesses. Protection comes at a cost, however, and a series of large storms beginning with Hurricane Katrina in 2005 and culminating in Hurricane Sandy left the flood insurance program $24 billion in debt and the federal government on the hook for the shortfall.

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