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The Independent UK
The Independent UK
National
Via AP news wire

FEMA report: Flood insurance hikes will drive 1M from market

Copyright 2022 The Associated Press. All rights reserved

When questioned by members of Congress, the Federal Emergency Management Agency said its new update to the nation's flood insurance program will prompt more people to sign up for coverage, even though many will pay more for it.

But in a FEMA report obtained by The Associated Press under the Freedom of Information Act, the agency estimates one million fewer Americans will buy flood insurance by the end of the decade — a sizable number of people at risk of catastrophic financial loss.

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