United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-03-21 monographic deposited born digital GA 1.13:RCED-94-80 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-80 P0b002ee18037f58f f:rc94080 DGPO 2010-08-12 2011-03-24 GAOREPORTS-RCED-94-80 machine generated eng fdlp REPORT GAOREPORTS-RCED-94-80 RCED-94-80 Program evaluation Flood insurance Property damages Revolving funds Emergency preparedness Disaster relief aid Property losses Insurance premiums Subsidies Financial management systems FEMA National Flood Insurance Program Letter Report RCED The National Flood Insurance Program, a key component of federal flood disaster relief, was always intended to be subsidized. Yet overall premium income for the program is not enough to build reserves that can cover anticipated flood losses. Forty-one percent of the program's policies are subsidized, and it is inevitable that claims losses and program expenses will at some point exceed program funds. In the event of a catastrophe, not even the Federal Emergency Management Agency's borrowing authority would be enough to cover potential claims. Raising premiums would improve the program's financial health but could lead to canceled policies, creating a future burden on other flood relief programs. On the other hand, greater program participation by property owners, although likely to cut the cost of other federal disaster assistance programs, would place a greater financial burden on the National Flood Insurance Program because of the need to cover additional subsidized properties. https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-94-80/html/GAOREPORTS-RCED-94-80.htm GAO/RCED-94-80 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-80 Letter Report GAO/RCED-94-80; Flood Insurance: Financial Resources May Not Be Sufficient to Meet Future Expected Losses; Program evaluation Flood insurance Property damages Revolving funds Emergency preparedness Disaster relief aid Property losses Insurance premiums Subsidies Financial management systems FEMA National Flood Insurance Program Public Law 90-448