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The cost of risk: the post-Sandy realities of flood insurance

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The Biggert-Waters bill addresses the problems of the National Flood Insurance Program in the abstract, but it doesn’t address the problems that actually manifested on the ground when the NFIP went into action. Entrenched inequality, the glacial pace of disbursement, the difficulty of navigating the bureaucratic ocean - these problems were enough to sink families after the storm - if they were eligible for flood insurance in the first place. So what is the point of having the NFIP anyway, when so much of it is apparently broken?

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