Home buyers in these US counties could see their flood insurance skyrocket ...Middle East

Quartz - Economy
Home buyers in these US counties could see their flood insurance skyrocket
source : Quartz ( Middle East ) () 19
The US federal flood insurance program is underwater—and as president Joe Biden tries to bail it out, millions of homeowners could find themselves swimming through much higher premiums.That’s the central warning of a new report from the research group First Street, which produces some of the country’s best data on flood risk and the insurance market. The National Flood Insurance Program, which offers low-cost insurance to all homeowners and is required for those with federally backed mortgages in designated high-risk zones, is supposed to pay for itself through premiums. From its creation in 1968 until the mid-2000s, it usually did. But the program began to run out of money as flood-related

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