National Flood Insurance Program: Treasury Borrowing in the Aftermath of Hurricane Katrina

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In 2008, Hurricanes Ike, Gustav, and Dolly made landfall in the United States, causing widespread flood damage. Exactly three years earlier, claims and expenses related to the massive flooding caused by Hurricanes Katrina, Rita, and Wilma had financially overwhelmed the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) estimates that the NFIP will need about $3 billion in additional borrowing authority to cover the claims currently outstanding and a yet to be determined amount for the 2008 Hurricanes. Congress is currently working to reform the NFIP while retaining its original intent to keep rates affordable for people … continued below

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King, Rawle O. September 19, 2008.

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In 2008, Hurricanes Ike, Gustav, and Dolly made landfall in the United States, causing widespread flood damage. Exactly three years earlier, claims and expenses related to the massive flooding caused by Hurricanes Katrina, Rita, and Wilma had financially overwhelmed the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) estimates that the NFIP will need about $3 billion in additional borrowing authority to cover the claims currently outstanding and a yet to be determined amount for the 2008 Hurricanes. Congress is currently working to reform the NFIP while retaining its original intent to keep rates affordable for people to buy the insurance.

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  • September 19, 2008

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  • Dec. 11, 2008, 8:31 p.m.

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  • April 22, 2026, 10:03 p.m.

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King, Rawle O. National Flood Insurance Program: Treasury Borrowing in the Aftermath of Hurricane Katrina, report, September 19, 2008; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metacrs10662/: accessed September 9, 2026), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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