U.S. Report: Private Insurers Overpaid by National Flood Program

September 13, 2007

  • September 13, 2007 at 7:39 am
    chrome says:
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    Another loss area thet the government shouldn’t be sticking their nose in.
    When will it stop….The government constantly bailing out insurance companies so that their officers can make huge bonus’?

  • September 13, 2007 at 2:35 am
    Flood guy says:
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    GAO’s conclusions are ridiculous, as they make no distinction between costs of a fixed nature and the direct costs associated with an increase in claims adjusting activity after a major event. GAO’s recent work on the NFIP seems sloppy and driven by a Gene Taylor-ish agenda.

  • September 13, 2007 at 3:00 am
    What's in a name? says:
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    Not called the GOVERNMENT Accounting Office for nothing! Now let them fix it!

  • September 14, 2007 at 6:56 am
    Nobody Important says:
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    There was never coverage for Flood before the goverment set up the program. Do you know anything about insurance at all?

  • September 17, 2007 at 1:29 am
    Hank says:
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    chrome,
    You don’t have any idea what you’re talking about. While there are many issues involving FEMA and how responsive they have been in the past and how inefficient they are, the gov’t had to get involved in this program in order to offer aa product that applies to only a small percentage of the population relative to the entire universe of insureds that would buy property insurance.
    There wouldn’t be a bailing out of anything, as the insurance companies don’t write primary flood.



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