A number of private insurance companies are reconsidering participation in the National Flood Insurance Program (NFIP) after a Congressional stall and massive losses. The future of the NFIP has been in question for some time as Congress looks at ways to provide flood insurance to individuals in need. However, after suffering through months of ups and downs in the insurance sector, some insurers think the best solution is to pull out.
NFIP Has Been on Shaky Ground for Some Time
The National Flood Insurance Program has been going through a series of changes for some time that has left it in a semi-fragile state.