GAO calls for comprehensive reform of National Flood Insurance Program

From: Financial Regulation News

The U.S. Government Accountability Office recommended comprehensive reform to improve the solvency and enhance the resiliency of the National Flood Insurance Program (NFIP).

GAO said Congress should consider reform in six areas: outstanding debt, premium rates, affordability, consumer participation, barriers to private-sector involvement, and NFIP flood resilience efforts.

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