At a Congressional hearing this week on the National Flood Insurance Program (NFIP), U.S. Rep. Randy Hultgren (R-IL) urged reforms to ensure taxpayers are shielded from unnecessary risk.
Hultgren said that the program must be changed, adding that reliable data and accurate mapping are essential to reflect the risks to communities located on flood plains.
“What’s important is that all of my constituents, whether they live in a high-risk area or not, understand the risks to their property, and that they are empowered to make responsible decisions about how to manage this risk,” Hultgren said at the hearing, entitled “Flood Insurance Reform: A Taxpayer’s Perspective.”
Hultgren said the flood insurance program is broken. With $25 billion of debt, and growing, Hultgren said it is not just unsustainable, but it is irresponsible and it is unfair to taxpayers.
“We also have to make sure flood insurance remains available to those who need it and choose to use it responsibly,” Hultgren said.
He added that reliable data and accurate mapping is critical to the success of the program.
“Despite dramatic developments in flood modeling and mapping technologies, the average map is 35 years old, according to the Association of State Floodplain Managers. How can the entire flood insurance system (private and non-private entities) better utilize the available technology?” he asked.