Repetitive losses feed NFIP's debt

08/9/2010 | Houston Chronicle (tiered subscription model)

The National Flood Insurance Program's debt has grown to more than $18 billion, in part because of coastal homeowners filing repeated claims on the same building, according to industry observers. Claims stemming from "repetitive loss" homes have increased more than two-fold during the past 15 years, comprising as much as 30% of claims paid by the NFIP.

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