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Latest National Flood Insurance Program Stories

2009-01-12 06:00:00

WASHINGTON, Jan. 12 /PRNewswire/ -- Heavy seasonal rain and recent wildfire damage can make for a disastrous combination. Winter Rainy Season in the Northwestern United States brings intense winter storms and the majority of annual precipitation to the region. In addition, widespread wildfires this past year have burned more than 1.6 million acres of land in California, Idaho, Nevada, Oregon and Washington. Wildfires leave the ground charred, barren and unable to absorb water. This...

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2007-02-02 00:50:00

WASHINGTON -- Maps used to calculate flood danger in the U.S. rely on data that are decades out of date, according to a report that calls for a new national program to remap land levels. The National Research Council on Thursday proposed an "Elevation for the Nation" program to produce up-do-date data. The most immediate need is for the Federal Emergency Management Agency's flood mapping program. Those maps are used by mortgage companies and FEMA's National Flood Insurance Program to...

2006-06-27 20:31:53

By Susan Cornwell WASHINGTON (Reuters) - The U.S. House of Representatives passed on Tuesday legislation to bolster the U.S. flood insurance program, struggling under a load of debt after last year's horrendous hurricanes. The measure raises the program's borrowing authority to $25 billion from $20.8 billion, while requiring the agency that oversees the program, the Federal Emergency Management Agency, to tell Congress how it will repay the funds it borrows. Rep. Mike Oxley,...

2006-02-15 12:42:01

WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday approved and sent to President George W. Bush a bill to raise the borrowing authority of the government's flood insurance program to $21.2 billion to cover claims from Hurricane Katrina and other storms. But some lawmakers warned they would not support raising the borrowing authority again without first reforming the National Flood Insurance Program, which is run by the Federal Emergency Management Agency. The...

2006-01-25 18:53:23

By Susan Cornwell WASHINGTON (Reuters) - The government's flood insurance program, socked by billions of dollars in Hurricane Katrina claims, returned to Capitol Hill on Wednesday to ask for $5.6 billion in additional borrowing authority. Senators acknowledged that the borrowing authority would need to be increased again. But Banking Committee Chairman Richard Shelby also declared the flood insurance program "bankrupt" and said it badly needed reform. He said his panel would write...

2005-11-21 23:21:08

WASHINGTON (Reuters) - President George W. Bush signed into law legislation drastically raising the borrowing authority of the government's flood insurance program to $18.5 billion from $3.5 billion to cover claims from Hurricane Katrina and other flood disasters, the White House said on Monday. Run by the Federal Emergency Management Agency, the National Flood Insurance Program recently has been swamped with more claims from storms than the total it has paid out since it began in...

2005-11-18 19:15:01

WASHINGTON (Reuters) - The U.S. Congress on Friday approved and sent to President George W. Bush to sign into law a bill to boost the borrowing authority of the government's flood insurance program to $18.5 billion from $3.5 billion, to cover claims from Hurricane Katrina and other flood disasters. Run by the Federal Emergency Management Agency (FEMA), the National Flood Insurance Program recently has been swamped with more claims from storms than the total it has paid out since it...

2005-11-18 14:25:39

WASHINGTON (Reuters) - The U.S. Senate on Friday boosted the borrowing authority of the government's flood insurance program to $18.5 billion from $3.5 billion to cover claims from Hurricane Katrina and other flood disasters. The House of Representatives earlier this week approved raising the borrowing authority to $8.5 billion, while a House committee voted to go even further and raise the authority to $22 billion. Both chambers will have to approve the same amount before the change...

2005-11-16 16:24:47

WASHINGTON (Reuters) - The U.S. House Financial Services Committee on Wednesday boosted the borrowing authority of the government's flood insurance program to $22 billion from $3.5 billion to cover claims from Hurricane Katrina and other flood disasters. The committee's move comes just more than two weeks after that panel approved an increase in borrowing to $8.5 billion, but which was seen as far short of the total claims expected after recent floods. Run by the Federal Emergency...

2005-10-27 12:52:57

By Susan Cornwell WASHINGTON (Reuters) - A U.S. House of Representatives committee on Thursday voted to increase the borrowing authority of the government's flood insurance program to $8.5 billion from $3.5 billion to help pay claims from Hurricane Katrina and other flood disasters. But one lawmaker warned the measure approved by the House Financial Services Committee was only a stopgap, adding that the flood insurance program was destined for insolvency. Program director David...


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