Are you covered?
August 22, 2006 10:52 PM Subscribe
Some call FEMA's administration of federal flood insurance and disaster relief illogical and illegal, although you won't find that in FEMA's recent summary of Katrina, which reveals that $15.3 billion dollars in federal flood insurance claims have been paid. That's quite a bit more than the National Flood Insurance Fund's budget, and you may recall that payouts didn't go smoothly. Still, having federal flood insurance, as opposed to relying on disaster relief, has proven its worth during the rebuilding process. Certainly Katrina was an extraordinary phenomenon, unlikely to be repeated any time soon. Perhaps that's why the annual disaster relief budget is smaller this year.
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