Folks early indications are with the GOP in charge of the House FEMA’s name will be changed to FEMA, Inc. with the NFIP expected to get a similar name change.
Regarding the proposed actuarially sound rates mentioned in Maria Recio’s article on the topic, I wonder if those rates include the wind damage amounts private insurers dumped on the program after every Hurricane? I suspect it does.
I think everyone that buys flood insurance should get ready to grab yer ankles because I’m perceiving another taxpayer-funded giveaway to unregulated global insurance companies.
In other news the early Hurricane Season predictions are out (h/t Editilla) and despite the fact they are very unreliable predictors of where storms will strike (or not) look for the media to gin a cheap story from Dr Gray’s modeling sourcing insurance shill Robert Hartwig from the Insurance disInformation Institute who will dutifully poor mouth the situation and then using logic Captain Queeg would certainly appreciate explain why premiums for non-existent coverage will need to be increased in advance of Hurricanes that do not strike.
And the beat goes on…..