Despite images of flooded Midwestern towns filling the news over the past week, the devastation being wrought by rising waters is not expected to produce significant claims that further reduce the coffers of the National Flood Insurance Program.
While total losses for the NFIP are "so far unknown," expectations are low given the few numbers of policyholders in the region, according to a representative for the federal program, Butch Kinerney.
The current flood catastrophe is not expected to cause financial woes for NFIP, according to Mr. Kinerney. "The fact is we just don't have a whole lot of policies out in that area," he said.
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