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Flood Insurance Program Needs Fix To Benefit All

Americans from Port Arthur, Texas, to Key West, Fla., are in the midst of a massive rebuilding effort as they recover from 2005's hurricanes. Fortunately, much of this reconstruction is financed by

By Ernie Csiszar | Updated on July 16, 2006

Americans from Port Arthur, Texas, to Key West, Fla., are in the midst of a massive rebuilding effort as they recover from 2005′s hurricanes. Fortunately, much of this reconstruction is financed by insurance claims payments–either from private insurers or policies issued by the National Flood Insurance Program.

As the current hurricane season began (experts predict an 81 percent chance of a major storm hitting either the Eastern seaboard or Gulf Coast this year), state and local governments were tackling difficult public policy issues, such as tougher building codes and land-use regulations, to help reduce the economic and human losses from future natural catastrophes.

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