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Unequal Tides: GAO Report Highlights Disparities in Federal Flood Insurance Program
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A recent report by the Government Accountability Office (GAO) has revealed significant disparities in the federal government's "Equity in Action" flood insurance program. The analysis found that Black households will have to allocate a larger proportion of their income to purchase federal flood insurance compared to white, Hispanic, or Asian households under the program. These disparities arise due to differences in income among households with National Flood Insurance Program (NFIP) policies. While the Federal Emergency Management Agency (FEMA) was not surprised by the findings, they acknowledge the affordability barrier and support efforts to create a program that assists low- and moderate-income households in affording NFIP coverage. The report's revelations could bolster initiatives to make additional changes to the flood insurance program to address the inequalities.
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