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After Harvey and Irma, what’s the future of flood insurance?

After Harvey and Irma, what’s the future of flood insurance?

Watch Video | Listen to the AudioJUDY WOODRUFF: This hurricane season has seen one devastating storm after another. Harvey, Irma and now Maria have left communities in ruin in their wake and put a spotlight on the problems plaguing the U.S.’ National Flood Insurance Program.
That’s the subject Paul Solman tackles on our weekly economics series, Making Sense.
LENI SHUCHTER, Pequannock, New Jersey Homeowner: And, in 1984, that’s the roof we were taken off of.
PAUL SOLMAN: You went up onto this roof?
LENI SHUCHTER: Yes.
PAUL SOLMAN: Leni Shuchter lives in Pequannock, New Jersey, a little too close to the Pompton river, a tributary of the Passaic.
LENI SHUCHTER: We had — it was a 24-foot boat pulled up alongside the roof.
PAUL SOLMAN: And how long were you up there?
LENI SHUCHTER: About four hours.
PAUL SOLMAN: The spring storms of 1984 were a once-in-a-century event, which is why Shuchter had no flood insurance.
LENI SHUCHTER: It wasn’t classified a flood zon

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