Devastating floods occur throughout the U.S. every year.
Flooding is a National Problem Until the late 1960s, most property owners were unable to get insurance coverage against flood damage. Private insurance firms, aware of the potential for catastrophic losses, were unwilling to assume the financial risk alone. This put the burden on taxpayers to provide costly disaster relief to a growing number of flood victims. This Federal program provides flood insurance at a reasonable cost in exchange for the careful management of flood-prone areas by local communities. You Should Know 1.