Fiddling while the country burns . . . or floods.

[flamin lib]

I just got this internal memo from a friend in the Insurance industry:

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The National Flood Insurance Program (NFIP), the federal government program that provides flood insurance, has recently declared that until Congress increases the NFIP's borrowing authority, it has exhausted its resources and will temporarily be unable to make claims payments to insurance claimants. , like other companies, offers flood insurance through the NFIP as a "Write Your Own" Company and some of our customers
may be effected.

The current situation with the NFIP is unprecedented. There has never been an occasion in the prior history of the program where claims disbursements so heavily exceeded the program's borrowing authority. This is due to the unprecedented disasters that have struck the United States in 2005. Valid NFIP claims are a legal obligation of the federal government and we expect they will ultimately be paid. However , the only way that claims can be paid on a timely basis is if Congress provides the additional funding,
which we hope will happen quickly. Farmers is doing all it can to reinforce the urgency of this situation with the federal government and Congress.

Customers may call the NFIP at 1-800-427-4661 with any questions, or they may contact their members of Congress.
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So, not only are the private insurance companies arguing about wind vs water damage, even those who paid for federal flood insurance aren't getting claims paid while Congress debates cutting taxes for the top 3% of incomes.