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In this series, we’ll explore the voluntary carbon market, how to participate and why now is the time for action.</p><p style="color:#ff4500">Underwritten by Cool Effect</p></div></div></li><li id="menu-item-269002" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-269002 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.triplepundit.com/special/workforce-development-and-education/" data-wpel-link="internal"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-deloitte-50x50.gif" srcset="https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-deloitte-50x50.gif 50w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-deloitte-150x150.gif 150w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-deloitte-165x165.gif 165w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="series-icon-deloitte"  /><span class="ubermenu-target-title ubermenu-target-text">Maximizing Impact Through Workforce Development and Education</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>Deloitte has centered on two key areas where it can leverage its strengths as a business service provider to have a positive impact for the long term on the communities in which it operates: education and workforce development.</p><p style="color:#ff4500">Underwritten by Deloitte</p></div></div></li><li id="menu-item-252404" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-252404 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.triplepundit.com/special/climate-smart-monsanto/" data-wpel-link="internal"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-50x50.gif" srcset="https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-50x50.gif 50w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-150x150.gif 150w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-300x300.gif 300w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-768x768.gif 768w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-650x650.gif 650w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-262x262.gif 262w, https://www.triplepundit.com/wp-content/uploads/2017/11/series-icon-monsanto-165x165.gif 165w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="series-icon-monsanto"  /><span class="ubermenu-target-title ubermenu-target-text">Climate Smart Agriculture</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>Monsanto presents a series on what it means to be “Climate Smart” in the world of agriculture. The series will cover the role of climate change in impacting food security, agriculture, weather patterns and society at large.</p><p style="color:#ff4500">Underwritten by Monsanto</p></div></div></li><li id="menu-item-244976" class="two-lines ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-244976 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.triplepundit.com/special/pearson-education/" data-wpel-link="internal"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-50x50.jpg" srcset="https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-50x50.jpg 50w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-150x150.jpg 150w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-300x300.jpg 300w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson.jpg 768w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-650x650.jpg 650w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-262x262.jpg 262w, https://www.triplepundit.com/wp-content/uploads/2017/09/series-icon-pearson-165x165.jpg 165w" sizes="(max-width: 50px) 100vw, 50px" width="50px" height="50px" alt="series-icon-pearson"  /><span class="ubermenu-target-title ubermenu-target-text">Education in the 21st Century</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>In this editorial series we’ll explore the role of business in supporting access to education and opportunities, and consider the best way to prepare a generation of leaders who understand the importance of sustainable development.</p><p style="color:#ff4500">Sponsored by Pearson</p></div></div></li><li id="menu-item-241990" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-241990 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.triplepundit.com/special/responsible-forestry-procter-and-gamble/" data-wpel-link="internal"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-50x50.jpg" srcset="https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-50x50.jpg 50w, https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-150x150.jpg 150w, https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-300x300.jpg 300w, https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-262x262.jpg 262w, https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry-165x165.jpg 165w, https://www.triplepundit.com/wp-content/uploads/2017/05/series-icon-forestry.jpg 339w" sizes="(max-width: 50px) 100vw, 50px" width="50px" height="50px" alt="series-icon-forestry"  /><span class="ubermenu-target-title ubermenu-target-text">Responsible Forestry</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>In this series sponsored by Procter and Gamble, we’ll explore what it means to practice “responsible forestry” and how trailblazing companies can lead the way.</p><p style="color:#ff4500">Sponsored by Procter & Gamble</p></div></div></li><li id="menu-item-269197" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-269197 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.triplepundit.com/special/waste-management-covanta/" data-wpel-link="internal"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-50x50.gif" srcset="https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-50x50.gif 50w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-150x150.gif 150w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-300x300.gif 300w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-768x768.gif 768w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-650x650.gif 650w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-262x262.gif 262w, https://www.triplepundit.com/wp-content/uploads/2017/04/series-icon-covanta-165x165.gif 165w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="series-icon-covanta"  /><span class="ubermenu-target-title ubermenu-target-text">Your Corporate Guide to Responsible Waste Management</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>So, your company wants to reduce its landfill waste. Now what? As sustainability reaches top of mind for investors and customers, more companies are beginning to tackle waste in their supply chains in order to boost their green cred.</p><p style="color:#ff4500">Sponsored by Covanta</p></div></div></li><li class="ubermenu-retractor ubermenu-retractor-mobile"><i class="fa fa-times"></i> Close</li></ul></li><li id="menu-item-259215" class="john-layout ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-has-children ubermenu-item-259215 ubermenu-item-level-0 ubermenu-column ubermenu-column-auto ubermenu-has-submenu-drop ubermenu-has-submenu-mega" ><span class="ubermenu-target ubermenu-item-layout-default ubermenu-item-layout-text_only" tabindex="0"><span class="ubermenu-target-title ubermenu-target-text">Events</span></span><ul class="ubermenu-submenu ubermenu-submenu-id-259215 ubermenu-submenu-type-auto ubermenu-submenu-type-mega ubermenu-submenu-drop ubermenu-submenu-align-full_width ubermenu-autoclear" ><li id="menu-item-272872" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-272872 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://goto.webcasts.com/starthere.jsp?ei=1181367&#038;tp_key=883846ff90&#038;sti=3p-site" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2018/02/report-alert-logo-50x50.png" srcset="https://www.triplepundit.com/wp-content/uploads/2018/02/report-alert-logo-50x50.png 50w, https://www.triplepundit.com/wp-content/uploads/2018/02/report-alert-logo.png 132w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="report-alert-logo"  /><span class="ubermenu-target-title ubermenu-target-text">WEBINAR: Learn how to inspire your CSR report audience</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>Join 3BL Media’s Stephanie Conzelman, VP of Business Development and Sheila McManus, Business Development Director, on February 27 at 2 p.m. BST (9 a.m. EDT) for a behind-the-scenes tour of ReportAlert, the report announcement platform used by more than 500 global brands from Marks & Spencer and GSK to CA Technologies and American Express.</p><p style="color:#ff4500">February 27 - Register now!</p></div></div></li><li id="menu-item-272944" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-272944 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.eventbrite.com/e/the-world-changing-womens-summit-tickets-38401489890?discount=WCWS_3P" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2018/01/consious-company-logo-50x50.png" srcset="https://www.triplepundit.com/wp-content/uploads/2018/01/consious-company-logo-50x50.png 50w, https://www.triplepundit.com/wp-content/uploads/2018/01/consious-company-logo.png 69w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="consious-company-logo"  /><span class="ubermenu-target-title ubermenu-target-text">The World-Changing Women&#8217;s Summit: Feb 20-22</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>With Conscious Company. The premier gathering of women leaders
in conscious business.</p><p style="color:#ff4500">Use discount code WCSW_3P</p></div></div></li><li id="menu-item-273346" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-273346 ubermenu-item-auto ubermenu-item-header ubermenu-item-level-1 ubermenu-column ubermenu-column-1-3" ><a class="ubermenu-target ubermenu-target-with-image ubermenu-item-layout-default ubermenu-item-layout-image_left" href="https://www.globeseries.com/forum/?utm_source=triplepundit&#038;utm_medium=banner&#038;utm_campaign=triplepundit_banner_ad" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"><img class="ubermenu-image ubermenu-image-size-menu-thumb" src="https://www.triplepundit.com/wp-content/uploads/2018/01/GLOBE-Forum-50x50.png" srcset="https://www.triplepundit.com/wp-content/uploads/2018/01/GLOBE-Forum-50x50.png 50w, https://www.triplepundit.com/wp-content/uploads/2018/01/GLOBE-Forum.png 65w" sizes="(max-width: 50px) 100vw, 50px" width="50" height="50" alt="GLOBE-Forum"  /><span class="ubermenu-target-title ubermenu-target-text">GLOBE Forum 2018</span></a><div class="ubermenu-content-block ubermenu-custom-content ubermenu-custom-content-padded"><div style="float:left; width:100%;"><p>The Leadership Summit for Sustainable Business.</p><p style="color:#ff4500">Vancouver March 14-16</p></div></div></li><li class="ubermenu-retractor ubermenu-retractor-mobile"><i class="fa fa-times"></i> Close</li></ul></li><li id="menu-item-216185" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-216185 ubermenu-item-level-0 ubermenu-column ubermenu-column-auto" ><a class="ubermenu-target ubermenu-item-layout-default ubermenu-item-layout-text_only" href="https://www.triplepundit.com/media-kit-access/" tabindex="0" data-wpel-link="internal"><span class="ubermenu-target-title ubermenu-target-text">Media Kit</span></a></li><li id="menu-item-254698" class="ubermenu-item ubermenu-item-type-custom ubermenu-item-object-custom ubermenu-item-254698 ubermenu-item-level-0 ubermenu-column ubermenu-column-auto" ><a class="ubermenu-target ubermenu-item-layout-default ubermenu-item-layout-text_only" href="https://www.triplepundit.com/podium/" tabindex="0" data-wpel-link="internal"><span class="ubermenu-target-title ubermenu-target-text">CSRWire</span></a></li></ul></nav></nav></div></header><div class="wrap container" role="document"><div class="content row"><main class="main col-md-8" role="main"><article class="post-267620 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-environment category-finance category-policy-government tag-climate-change tag-flood-damage tag-flooding tag-floods tag-houston tag-hurricane-harvey tag-insurance tag-leon-kaye tag-national-flood-insurance-program tag-sea-level-rise tag-subsidies tag-texas"><header><h1 class="entry-title">Hurricane Harvey Tests Limits of Federal Flood Insurance Program</h1><p class="byline author vcard"><a href="http://www.triplepundit.com/author/leon-kaye/" rel="author" class="fn" data-wpel-link="internal">by Leon Kaye</a> on <time class="updated" datetime="2017-08-29T03:00:56+00:00">Tuesday, Aug 29th, 2017</time><a style="color:#ff4500; padding-left:15px; padding-bottom:0; margin-bottom:-4px; font-size:0.9em;" href="https://www.triplepundit.com/category/climate-environment/" data-wpel-link="internal"> <i class="fa fa-globe" aria-hidden="true"></i> <span style="text-transform:uppercase;">Climate &amp; Environment</span></a></p><div class="entry-share"><div class="row"><div class="col-xs-4 col-sm-2"><div class="share-total"> Share</div></div><div class="col-xs-8 col-sm-10"><div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-icon sd-sharing"><div class="sd-content"><ul><li class="share-twitter"><a rel="nofollow" data-shared="sharing-twitter-267620" class="share-twitter sd-button share-icon no-text" 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src="https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24.jpg" alt="Insurance, floods, flooding, Hurricane Harvey, Texas, Houston, subsidies, climate change, sea level rise, Leon Kaye" width="640" height="360" srcset="https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24.jpg 640w, https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24-150x84.jpg 150w, https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24-300x169.jpg 300w, https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24-262x147.jpg 262w, https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24-165x93.jpg 165w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption class="wp-caption-text">Hurricane Harvey from space on August 24</figcaption></figure><p>In addition to the <a href="https://www.washingtonpost.com/news/post-nation/wp/2017/08/28/harvey-may-force-30000-people-into-shelters-while-flooding-will-linger-officials-warn/?utm_term=.3f5db0e14e6f" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">loss of life</a>, mass evacuations and extensive property damage in the Houston area, Hurricane Harvey’s impact on southeastern Texas is offering another grim reminder: The federal government’s national flood insurance program is about to become even more financially unsustainable.</p><p>Operated by the Federal Emergency Management Agency (FEMA), the <a href="https://www.fema.gov/national-flood-insurance-program" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">National Flood Insurance Program</a> (NFIP) has covered coastal properties since private insurers began refusing to insure these properties the 1970s. FEMA works with private insurance companies who underwrite these homeowners’ policies. FEMA flood maps determine the cost of these policies’ premiums once homeowners purchase them. In the event of a flood, the insurance company determines the scope of the damage and much can be paid out to the policy holder. Those same companies collect the premiums, and keep some of the funds to cover their expenses.</p><p>Since the program launched in 1978, NFIP has worked largely as planned, taking in more in premiums than it pays out for property damage reimbursements. But Hurricane Katrina in 2005 and Superstorm Sandy in 2012 together walloped the program.</p><p>Now, NFIP is over $24 billion in debt, and most experts agree that this deficit has grown largely for two reasons. First, FEMA has been <a href="http://www.pbs.org/wgbh/frontline/article/how-federal-flood-maps-ignore-the-risks-of-climate-change/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">slow to update its maps</a> – in the aftermath of Katrina, it had turned out its maps had not been updated in over 20 years. The Natural Resources Defense Council (NRDC) also claimed that out-of-date maps <a href="https://www.nrdc.org/experts/rob-moore/nyc-will-get-flood-maps-consider-climate-impacts" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">contributed</a> to both the shock and damage across New York and New Jersey after Sandy pummeled the region.</p><p>Furthermore, NFIP has been a <a href="https://www.theatlantic.com/politics/archive/2017/08/congress-flood-insurance/535731/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">political football</a>, as politicians from coastal states have been loath to permit premiums increases under their watch. Proposals to account for risks due to not only historic flood threats, but to also for climate change and <a href="https://www.triplepundit.com/2016/08/sea-level-rise-cause-1-trillion-u-s-real-estate-losses/" data-wpel-link="internal">sea level rise</a> risks, have long been a non-starter on Capitol Hill.</p><p>Even though mounting evidence suggests that more flooding over the past decade has occurred in areas <a href="http://www.npr.org/2016/09/15/492260099/outdated-fema-flood-maps-dont-account-for-climate-change" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">outside conventional flood plains</a>, citizens still covet homes in coastal areas. Congress passed a law in 2012 that required FEMA and NFIP to charge market rates, and climate change became a factor in how these policies were priced. But homeowners <a href="http://www.motherjones.com/politics/2013/11/congress-backtracks-law-aimed-reduce-flooding/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">pushed back hard</a>, and Congress moved quickly to undo that law. Another <a href="https://www.washingtonpost.com/national/health-science/rise-in-government-insurance-rates-to-mirror-rising-waters-flood-debt/2015/03/28/8f9f17c6-d316-11e4-ab77-9646eea6a4c7_story.html?utm_term=.eec63c2d6000" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">rate increase</a> was enacted in 2015 as Congress scrambled to find a way to hack away at NFIP’s deficit, but homeowners lashed out again, and the cycle has continued. In recent years, many homeowners <a href="https://www.nbcnews.com/news/us-news/average-joes-fighting-fema-flood-maps-isnt-easy-or-cheap-n23871" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">believed</a> FEMA’s new flood maps were often arbitrary – giving opponents even more ammunition in their fight against higher flood insurance premiums.</p><p>Therefore, while many politicians and citizens are beside themselves over the Affordable Health Care Act (“Obamacare”), NFIP’s single-payer insurance system is asking taxpayers to subsidize the lifestyle choices of people who insist on living near the water – but do not want to pay market rates for insurance. “Federal officials in Washington set rates and taxpayers assume all the risks,” <a href="http://www.huffingtonpost.com/entry/gop-insurance-hypocrisy_b_4194784.html" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">Eli Lehrer</a> summed up on <em>Huffington Post</em> in 2014.</p><p>According to a Reuters <a href="https://www.reuters.com/article/storm-harvey-flood-insurance-idUSL2N1LB25V" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">interview</a> with an executive at the budget watchdog group Taxpayers for Common Sense, the program’s $24 billion deficit could surge as high as $30 billion as claims filed in Harvey’s aftermath begin to accumulate. But do not watch for improvement on this front at any point soon. For example, in 2015, former President Obama issued an <a href="https://obamawhitehouse.archives.gov/the-press-office/2015/01/30/executive-order-establishing-federal-flood-risk-management-standard-and-" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">executive order</a> that sought a new flood risk reduction standard for federally funded projects. But President Trump revoked that order on August 17. The result, insists <a href="http://www.taxpayer.net/library/article/repealing-flood-standard-today-will-cost-taxpayers-dearly-tomorrow" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">Taxpayers for Common Sense</a>, will “effectively force taxpayers to subsidize construction that puts people and property in harm’s way. This isn’t even penny wise, pound foolish – it’s just foolish.”</p><p>Meanwhile, the U.S. General Accounting Office (GAO), which has several roles including one as the federal government’s lead auditor, has warned that NFIP’s design is <a href="https://www.gao.gov/highrisk/national_flood_insurance/why_did_study" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">not structurally sound</a> – and its precarious financial position has landed the program on the agency’s “High-Risk” list since 2006.</p><p><em>Image credit: NASA/<a href="https://www.flickr.com/photos/gsfc/35973025253/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">Flickr</a></em></p> <span itemscope itemtype="http://schema.org/Article" class="itempropwp-wrap"><meta itemprop="name" content="Hurricane Harvey Tests Limits of Federal Flood Insurance Program" /><meta itemprop="headline" content="Hurricane Harvey Tests Limits of Federal Flood Insurance Program" /><meta itemscope itemprop="mainEntityOfPage"  itemType="https://schema.org/WebPage" itemid="https://www.triplepundit.com/2017/08/harvey-shows-federal-governments-flood-insurance-program-not-sustainable/"/><meta itemprop="url" content="https://www.triplepundit.com/2017/08/harvey-shows-federal-governments-flood-insurance-program-not-sustainable/" /><span itemprop="image" itemscope itemtype="https://schema.org/ImageObject"><meta itemprop="url" content="https://www.triplepundit.com/wp-content/uploads/2017/08/Hurricane-Harvey-from-space-on-August-24.jpg" /><meta itemprop="width" content="640"/><meta itemprop="height" content="360"/></span><meta itemprop="author" content="https://www.triplepundit.com/author/leon-kaye/" /><meta itemprop="description" content="Hurricane Harvey’s impact on the greater Houston region is offering another grim reminder: the federal government’s national flood insurance program, NFIP, is going to become even more financially unsustainable -- and it&#039;s already $25M in debt." /><meta itemprop="datePublished" content="2017-08-29 03:00:56" /><meta itemprop="dateModified" content="2017-08-30 08:57:48" /></span></div><div style="border-top:1px solid #f0f7fc; padding-top:30px; font-size:0.8em;"><style type="text/css">.cat-list-small{margin-top:-20px;margin-bottom:30px}.cat-list-small li{margin-bottom:0!important;padding-bottom:10px!important;font-size:1.2em!important}</style><p style="font-size:1.5em;"><a style="color:#ff4500" href="https://www.triplepundit.com/category/climate-environment/" data-wpel-link="internal"> <i class="fa fa-globe" aria-hidden="true"></i> <span style="text-transform:uppercase;">Climate &amp; Environment</span></a></p><p class="series-sponsor" style="margin-top:-20px;"> Recent headlines from the <strong>4987 articles</strong> in <a href="https://www.triplepundit.com/category/climate-environment/" data-wpel-link="internal">this category</a>:</p><ul class="cat-list-small"><li><a href="https://www.triplepundit.com/2018/02/drink-heineken-seeks-boost-renewables-reducing-emissions/" data-wpel-link="internal">Drink to This: Heineken Seeks to Boost Renewables While Reducing Emissions</a></li><li><a href="https://www.triplepundit.com/2018/02/xcel-energy-expects-save-millions-renewables/" data-wpel-link="internal">Xcel Energy Expects to Save Millions with Renewables</a></li><li><a href="https://www.triplepundit.com/2018/02/companies-improving-methane-disclosures-many-companies-still-risk/" data-wpel-link="internal">Companies Are Improving on Methane Disclosures, But Many Companies Are Still at Risk</a></li></ul></div><div class="author-info"><div class="author-info-inner clearfix"><div class="round"> <img alt='' src='https://secure.gravatar.com/avatar/05013821f5f184ce6326b39bb8a42d7a?s=128&#038;d=identicon&#038;r=pg' srcset='https://secure.gravatar.com/avatar/05013821f5f184ce6326b39bb8a42d7a?s=256&#038;d=identicon&#038;r=pg 2x' class='avatar avatar-128 photo' height='128' width='128' /></div><p>Based in Fresno, California, Leon Kaye has written for TriplePundit since 2010. He has lived across the U.S., as well as in South Korea, Abu Dhabi and Uruguay. Some of Leon's work can also be found in <a href="http://www.theguardian.com/profile/leon-kaye" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"> The Guardian</a>, <a href="http://www.sustainablebrands.com/user/79655" data-wpel-link="external" target="_blank" rel="external noopener noreferrer"> Sustainable Brands</a> and <a href="http://cleantechnica.com/author/leon/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">CleanTechnica</a>. You can follow him on Twitter <a href="http://twitter.com/leonkaye" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">(@LeonKaye)</a> and Instagram <a href="http://web.stagram.com/n/greengopost/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">(GreenGoPost)</a>.</p><p class="twitter"> <img width="24px" class="alignleft" src="https://www.triplepundit.com/wp-content/themes/triplepundit-v4/assets/img/twitter_logo_blue.png" >Follow Leon Kaye <a href="http://twitter.com/leonkaye" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">@leonkaye</a></p></div></div><footer></footer><section id="comments" class="comments"><h3 class="line-header"><span>One response</span></h3><ol class="comment-list"><li id="comment-146352" class="comment byuser comment-author-mushes even thread-even depth-1"><article id="div-comment-146352" class="comment-body"><footer class="comment-meta"><div class="comment-author vcard"> <img alt='' src='https://secure.gravatar.com/avatar/d5daf4ce2c4f0efc521f78ec7ff23446?s=32&#038;d=identicon&#038;r=pg' srcset='https://secure.gravatar.com/avatar/d5daf4ce2c4f0efc521f78ec7ff23446?s=64&#038;d=identicon&#038;r=pg 2x' class='avatar avatar-32 photo' height='32' width='32' /> <b class="fn">Mushes</b> <span class="says">says:</span></div><div class="comment-metadata"> <a href="https://www.triplepundit.com/2017/08/harvey-shows-federal-governments-flood-insurance-program-not-sustainable/#comment-146352" data-wpel-link="internal"> <time datetime="2017-08-29T10:14:01+00:00"> August 29, 2017 at 10:14 am </time> </a></div></footer><div class="comment-content"><p>Like most natural or God-controlled perils i.e. Earthquake, Tsunami, etc. &#8211; am wondering why is Flood made insurable via NFIP ?</p><p>Simply stated &#8211; natural perils or calamities are so costly and are hence uninsurable &#8211; that&#8217;s why insurers have a specific exclusion in their policies to exclude most natural perils.</p></div><div class="reply"><a rel="nofollow" class="comment-reply-login" href="https://www.triplepundit.com/wp-login.php?redirect_to=https%3A%2F%2Fwww.triplepundit.com%2F2017%2F08%2Fharvey-shows-federal-governments-flood-insurance-program-not-sustainable%2F" data-wpel-link="internal">Log in to Reply</a></div></article></li></ol><div id="respond" class="comment-respond"><h3 id="reply-title" class="comment-reply-title">Leave a Reply <small><a rel="nofollow" id="cancel-comment-reply-link" href="/2017/08/harvey-shows-federal-governments-flood-insurance-program-not-sustainable/?utm_term=0_9dedefcee3-ec43864ca4-220554225&amp;utm_content=bufferdabfe&amp;utm_medium=social&amp;utm_source=twitter.com&amp;utm_campaign=buffer#respond" style="display:none;" data-wpel-link="internal">Cancel reply</a></small></h3><p class="must-log-in">You must be <a href="https://www.triplepundit.com/wp-login.php?redirect_to=https%3A%2F%2Fwww.triplepundit.com%2F2017%2F08%2Fharvey-shows-federal-governments-flood-insurance-program-not-sustainable%2F" data-wpel-link="internal">logged in</a> to post a comment. <a href="/register-for-a-commenting-account/" target="_blank" data-wpel-link="internal">Register here </a>if you need an account.</p></div></section></article></main><aside class="sidebar col-md-4" role="complementary"><section class="widget-odd widget-first widget-1 widget sponsor-slide-3 widget_sponsor-slide"><h3>Our sponsors</h3><div class="responsive-slider" data-spy="responsive-slider" data-autoplay="true" style="width:295px !important; 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