Thursday, January 9, 2014

Another perspective on flood insurance

Excerpt from Beachcomber Column....

Here’s another perspective on flood insurance. Gerald Galloway, an engineering professor at theUniversity of Maryland who studies floods, and advises the government on how to deal with them says, there are flood-prone places like Louisiana that suck up a big share of FEMA’s flood money. “But thirty-five percent of our nation’s oil and gas comes from the Gulf Coast, and these people live in some form of risk. It is not a flood insurance program,” Rather, Galloway says. “it is a program to maintain the viability of communities and their economy.”

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