Mandatory Flood Policies Could Emerge; U.S. Bill Would Force Homes Behind Levees, Dams to Be Insured
The Milwaukee Journal Sentinel › July 11, 2008
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Summary
Washington -- Lawmakers are moving forward with legislation that could force homeowners who live behind levees and dams to buy flood insurance from the federal government. The proposal is part of a major overhaul being debated in Congress of a federal flood insurance program that gives homeowners access to affordable flood coverage.
The 40-year-old program is nearly $18 billion in debt after the 2005 hurricanes, and lawmakers say they must act now to ensure that the federal government can continue to meet the needs of communities in flood-prone areas. Recent floods in Wisconsin and throughout the Midwest have renewed concerns about the program.See the full content of this document
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Mandatory Flood Policies Could Emerge; U.S. Bill Would Force Homes Behind Levees, Dams to Be Insured
"We're looking for the program to be self-sufficient and solvent," said Rep. Gwen Moore, a Milwaukee Democrat who serves on a committee that wrote...
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