Following Harvey, Irma, Congress contemplates NFIP’s future

The National Flood Insurance Program is in debt. NFIP which helps homeowners in flood-prone areas, not covered by private insurers. Following hurricanes Harvey and Irma, Congress could completely overhaul it. FEMA reports that currently, 89,069 policyholders have filed flood-insurance claims in Texas. NFIP has paid $1.39 billion for Harvey claims in Texas.

Commission to Rebuild Texas' leader John Sharp says the first flood money should be coming from your insurance.

“They have to step up. They gotta quit telling their clients ‘wait til you get the FEMA money’. They need to write a damn check, right then,” said Sharp.

Texas Coalition for Affordable Insurance Solutions' Beaman Floyd says while there's various sources for your recovery, insurance agencies have done a great job, thus far.

“In the aftermath of the storm, so far, they’ve cut more than $2 billion in checks to affected Texans,” said Floyd. “In terms of paying claims, it’s $2 billion and counting.”

Floyd said flood damage is covered by a separate policy primarily provided through FEMA.

The program has more than $584,000 active policies in Texas.

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