Gno Aog 13 - Update - Report Outline 8 13
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Transcript of Gno Aog 13 - Update - Report Outline 8 13
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National Flood Insurance Program
Update FEMA RoundtableAugust 15, 2013
JEFFERSON ORLEANS PLAQUEMINES ST. BERNARD ST. CHARLES ST. JAMES
ST. JOHN THE BAPTIST ST. TAMMANY TANGIPAHOA WASHINGTON
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A Growing Coalition
23 Parishes
16 States (+6 in process)
Associations: LA Bankers
LA Realtors
LA Homebuilders
LA Chamber Executives
National Waterways
Conference
National Levee IssuesAlliance
GNO, Inc. is leading a growing national coalition
to address the NFIP challengethe Coalition for Sustainable Flood Insurance (CSFI)
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Current Challenges
1. Phase-Out of Grandfathering
2. Incomplete Mapping
3. Questionable Calculations
The Coalition for Sustainable Flood Insurance has identifiedthree major problems:
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Challenge #2
Incomplete Mapping
New FEMA maps, which outline new base flood elevations, do not
recognize protection offered by non Corps certified levees. As part of
GNO, Inc.s Action Plan, we invited David Miller, head of the NFIP, to
South Louisiana to visit our flood protection features.
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Roundtable with David Miller
LA Congressional Delegation, FEMA Associate Administrator
David Miller, Dale BenoitParticipants at Roundtable with David Miller
On August 8, GNO, Inc. hosted a roundtable with David Miller,
Associate Administrator for FEMA, the Louisiana Congressional
Delegation, and state, local and business leaders.
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Outcome of Roundtable
As a result of the roundtable, GNO, Inc. was charged with producing a
report to get to the bottom of several unanswered questions.
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How is the $25B NFIP deficit
calculated?
Over the last 30 years, $6B more
in premiums have been collectedthan have been paid out.
What accounts for the $31Bnegative swing?
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What portion of premiums actually
goes towards coverage?
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What additional programs beyond
flood insurance are fundedby NFIP premiums?
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How many policy-holders will be
affected by drastic (>500%)premium increases?
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When will actuarial table rates
be released to the public?
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Was any money swept from FEMA
accounts by the federalgovernment in years of surpluses,
and if so, how much?
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40% of federally backed mortgages
that are required to have floodinsurance do not. Why is this not
enforced?Would the program be solvent if
everyone who is required topurchase flood insurance actually
purchased it?
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An Important Question
Until these basic questions about the structure and management of
NFIP are answered, should innocent, tax-paying Americansbe destroyed to support the program?