Flood Insurance:

Statistics on the National Flood Insurance Program

RCED-88-155FS: Published: Apr 29, 1988. Publicly Released: May 3, 1988.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO provided information regarding the National Flood Insurance Program (NFIP), which the Federal Emergency Management Agency's (FEMA) Federal Insurance Administration administers.

GAO found that: (1) as of December 31, 1987, NFIP had about 2.1 million policies with a total insurance value of about $162 billion; (2) although NFIP has had a net cumulative operating deficit of about $652 million over the past 10 years, it has had an operating gain in each of the last 2 years; (3) coastal communities in general held about 72 percent of the policies, high-hazard areas held about 3 percent, and the eight Great Lakes states held about 10 percent; (4) losses from January 1978 through October 1987 totalled about $2.4 billion, with repetitive losses accounting for about $1 billion, and averaging about $7,069; (5) FEMA purchased 727 flood-damaged properties at a cost of $21.4 million from fiscal year 1980 through January 12, 1988; (6) flood insurance claims from January 1978 through December 1986 exceeded available insurance by $88 million for buildings and $116 million for contents; and (7) average premiums for coastal high-hazard policies increased from $98 in 1978 to $437 in 1986.

Sep 6, 2016

Aug 24, 2016

May 26, 2016

Apr 18, 2016

Mar 24, 2016

Mar 10, 2016

Feb 4, 2016

Sep 29, 2015

Mar 25, 2015

Feb 19, 2015

Looking for more? Browse all our products here