(no subject)
Nov. 17th, 2005 12:07 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
novapsycheFEMA halts flood insurance payments
A government agency has run out of funds to cover flood insurance claims and, in an unprecedented move, has stopped payments to policyholders.
The Federal Emergency Management Agency, which runs the national flood insurance program, has advised the 96 insurance companies that sell flood policies to stop payments to policyholders until Congress says the agency can borrow more money.
It's the first time since the flood insurance program began in 1968 that FEMA has taken this action.
A government agency has run out of funds to cover flood insurance claims and, in an unprecedented move, has stopped payments to policyholders.
The Federal Emergency Management Agency, which runs the national flood insurance program, has advised the 96 insurance companies that sell flood policies to stop payments to policyholders until Congress says the agency can borrow more money.
It's the first time since the flood insurance program began in 1968 that FEMA has taken this action.