Co-op and Condo Flood Insurance Premiums Could Jump by 10% or More (NY)

/ Owner - October 15, 2021

Created by Congress in 1968, the National Flood Insurance Program (NFIP) was doomed from the start. The premiums the program collected never kept up with the losses it covered, requiring the federal government to pump in more and more money. Climate change has made a bad system worse. If it were a private insurance carrier, the NFIP would have gone bankrupt long ago.   Read the entire article……………………………….

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