December 18, 2006

NFIP: GAO Critique of FEMA's Flood Claims Oversight

Following Hurricanes Katrina and Rita, the National Flood Insurance Program (NFIP) paid about 170,000 claims for flood damage, most on primary residences. Congress increased its borrowing authority to nearly $21 billion, but NFIP's annual premium revenues of $2 billion are probably insufficient to repay. This General Accountability Office (GAO) report evaluates the claim adjustment process.

  • Highlights: GAO highlights of study of NFIP adjustment of Hurricanes Katrina and Rita claims
  • Full Report GAO-07-169 GAO-07-169: NATIONAL FLOOD INSURANCE PROGRAM - New Processes Aided Hurricane Katrina Claims Handling, but FEMA’s Oversight Should Be Improved (Dec. 2006)

    Thanks to: beSpacific: GAO Recommends More Oversight for National Flood Insurance Program (Dec. 15, 2006).

    Posted by dougsimpson at 05:59 AM
  • December 07, 2006

    Ethanol's roots in ADM lobbying

    Grist features the origins of U.S. government subsidies for ethanol fuels and their benefits to Acher Daniels Midland (ADM) and its former CEO Dwayne Andreas (the man who provided the $25,000 for the Watergate 'plumbers'). Includes links to the 1995 Cato Institute study of Carter administration support to ADM, as well as this year's study by the International Institute for Sustainable Development, Biofuels - At What Cost? (Oct. 25, 2006).

    The latter estimates federal support for ethanol to total between $5.5 billion and $7.3 billion each year, and the benefits to ADM which (according to the article) contols about 1/3 of the ethanol market.

    The article suggests that the federal government could do more to fight greenhouse gases (GHG) if it used the money to buy carbon offsets. Of course, that's not the administration's goal in supporting ADM and ethanol, is it?

    How cash and corporate pressure pushed ethanol to the fore | By Tom Philpott | Grist | Main Dish | 06 Dec 2006

    Posted by dougsimpson at 09:25 AM