The agency that manages the National Flood Insurance Program must do a better job of providing information concerning properties that are the basis for repeated damage claims over the years, a federal report says.
The study was conducted by the Government Accountability Office at the request of Sen. Richard Shelby, R-Ala., ranking minority member of the Senate Banking Committee, who has insisted that more must be done to reduce repetitive flood program losses.
The GAO report appears to back Sen. Shelby up. The GAO said in the study that over the last 10 years ending in 2006, the NFIP program has shown a “steady” increase in the number of policies in force, as well as the average amount of insurance per policy.
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