The National Flood Insurance Program was created in 1968 to insulate Americans from property damage due to flooding. In the years since, the Program became part of the problem it was supposed to solve. Mismanagement and miscalculation of risk, coupled with increasing flood likelihood due to climate change and other factors, have turned the NFIP into a liability. The Program has misled property owners as to their property’s true risk and has created a system that disproportionately affects certain groups, such as the elderly. This Note offers a solution, showing how the Program can fix its calculation of risk, communicate that risk to all relevant parties, and invest in projects that will reduce overall flood risk.

Continue reading Treading Water: How to Fix the National Flood Insurance Program