When President-elect Donald Trump said, he wanted to "drain the swamp," he may not have been referring to the sinking federal flood insurance program.
However, it is likely the nationalization of the flood insurance industry and years of federal interference in the sale of private flood insurance will not go unnoticed.
The government monopoly on flood insurance has been a major impediment to the growth of the private flood insurance market and has only exacerbated the $23 billion debt the National Flood Insurance Program owes taxpayers. It seems foreseeable that the Trump administration will act to correct such needless waste.
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