Having lived for many years in the “flood-free” city of Johnstown, Penn., I understand the importance of having a sound flood insurance program. In 1977, massive rainfall fell in the Johnstown area (nearly 12 inches in 10 hours), resulting in 85 flood-related deaths and untold property damage. This occurred after the government installed a flood control system following the St. Patrick's Day flood of 1936 that was supposed to protect the city from future floods.

As insurance and governmental officials debate the future of the National Flood Insurance Program, anyone who has seen the destruction that floods can bring have to believe in the need for and value of a sound flood insurance program. And this year will be no different. Flood insurance will enable many policyholders to rebuild their properties and get on with their lives.

Yes, there is a lot wrong with the NFIP system. Just read some of the coverage of the committee hearings on the Flood Insurance Reform Act of 2011. The NFIP is subsidized by the taxpayers and not actuarially sound; it suffers from adverse risk selection; and it is subject to statutory limits on rate increases. And people always seem to return to the very site from which flooding previously drove them.