WASHINGTON, DC – New reporting from CNN exposed Donald Trump’s FEMA Review Council recommendation to privatize the National Flood Insurance Program, a move that would replace affordable federal flood insurance with expensive private policies for millions of homeowners. The proposal encourages private insurance companies to take over policies currently held by the federal program – a change that would send premiums skyrocketing for millions of families in flood-prone areas who depend on NFIP for accessible, affordable coverage.
In response, Unlocking America’s Future spokesperson Kyle Herrig released the following statement:
“This recommendation puts corporate profits ahead of millions of American families who depend on affordable flood insurance. Privatizing the National Flood Insurance Program would strip away the protections that keep coverage accessible for homeowners in flood-prone communities – and due to flood insurance requirements for some homeowners, families would be trapped into paying whatever exorbitant prices private insurers demand or be forced out of homeownership entirely. Americans need leaders who will strengthen disaster protection, not hand it over to private insurers who will price families out of their homes.”
Additional Background:
The National Flood Insurance Program serves 22,000 communities nationwide, providing essential coverage in high-risk flood zones where private insurers refuse to operate. The program offers an affordable alternative to costly taxpayer-funded disaster assistance, ensuring that families can protect their homes without facing financial ruin when floods strike.
This attack on the National Flood Insurance Program comes at a time when home insurance costs are already skyrocketing across America. Insurers are abandoning disaster-prone communities entirely, leaving families with fewer options and higher premiums. With the majority of Americans already struggling with rising costs, privatizing NFIP would force millions of families who are legally required to carry flood insurance to pay whatever exorbitant prices private insurers demand, potentially forcing them out of their homes entirely.
# # #
