When President-elect Donald Trump said, he wanted to "drain theswamp," he may not have been referring to the sinking federal flood insurance program.

However, it is likely the nationalization of the flood insuranceindustry and years of federal interference in the sale of privateflood insurance will not go unnoticed.

The government monopoly on flood insurance has been a majorimpediment to the growth of the private flood insurance market andhas only exacerbated the $23 billion debt the National Flood Insurance Program owes taxpayers. Itseems foreseeable that a Trump administration will act to correctsuch needless waste.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.