TITLE

Flood Rating System Flawed, GAO Warns

AUTHOR(S)
Postal, Arthur D.
PUB. DATE
December 2008
SOURCE
National Underwriter / P&C;12/8/2008, Vol. 112 Issue 46, p10
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the warning given by the U.S. Government Accountability Office (GAO) concerning the inaccurate flood rating system utilized by the National Flood Insurance Program (NFIP). The agency is using an outdated computer model which tends to increase the rates being charged to homeowners and businesses. GAO believed that verifying the accuracy of flood probability and the involvement of Federal Emergency Management Agency (FEMA) in re-evaluating the process can help a lot.
ACCESSION #
35618978

 

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