Comment
0
Tweet
0
Print
RSS Feeds

Few DC owners affected in flood-insurance debate

Monday - 3/24/2014, 4:08am  ET

McLEAN, Va. (AP) -- While the federal government wades through a complicated effort to keep the National Flood Insurance Program solvent, the capital city has very little at stake in the debate.

Data compiled by The Associated Press show that the District of Columbia has fewer policies issued through the flood-insurance program than any of the 50 states. And it has fewer of the policies that are at the heart of a debate over the flood insurance program's future -- subsidized policies that do not reflect the true risk of insuring them.

The district has only 185 property owners who hold the subsidized policies. That is less than half that of next smallest state, Alaska. Those owners could face annual rate increases of up to 25 percent until their premiums reach market rates.

Meanwhile, a redrawing of flood maps could bring more district property owners into the program.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.