The Government Accountability Office has sounded the alarm on National Flood Insurance Program shortcomings and has called on Congress to restructure the program.
The report, released Feb. 16, cited the NFIP as "high risk," one of approximately 30 government operations the GAO identified as a problem due to "greater vulnerabilities to fraud, waste, abuse and mismanagement or the need for transformation to address economy, efficiency or effectiveness challenges."
In the report, the GAO acknowledged that the NFIP is "a key component of the federal government's efforts to limit the damage and financial impact of floods."
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