Insurance

Why has “mandatory” flood insurance failed so miserably to ensure that homeowners in flood prone areas mitigate their own risk? Because it’s not as “mandatory” as you might think, and the rules in place are not enforced. Private insurers via the free market should be allowed to market and sell flood insurance and educate the public about its benefits. And Congress must bite the bullet and not aid homeowners who chose not to get cheap insurance or let it lapse after their mortgage closed.