Michel-Kerjan, Erwann O. - In: Journal of Economic Perspectives 24 (2010) 4, pp. 165-86
billion in 2010 dollars. In 1965, no flood insurance was available, so victims had to rely on friends and family, charities …, or federal relief. After that catastrophe, the U.S. government established a new program in 1968—the National Flood … Insurance Program (NFIP)—to make flood insurance widely available. Now, after more than 40 years of operation, the NFIP is today …