EDITORIAL: Flood-insurance crisis could be delayed

July 15--The U.S. Senate has passed another measure that would keep the National Flood Insurance Program operational for the next six months.

Coastal Louisiana residents -- and millions of other Americans who live near the water or in low-lying areas -- should greet the news with measured relief. The possibility that the NFIP won't expire July 31 is welcome, but it isn't certain.

While the Senate has now passed extensions added to two separate bills, there is no guarantee that either bill will survive a final vote or that President Trump will sign either into law.

Then there's the larger concern that even a short-term extension won't address the underlying problems with the program -- something that will take a concerted, bipartisan effort and likely will take longer than six months.

"Louisiana families depend on the National Flood Insurance Program in case of disaster and recovery after disaster," said Sen. Bill Cassidy, R-La. "We must preserve this program through hurricane season while working on a long-term reauthorization and reform that ensures the program is affordable and sustainable. By instructing conferees to include this six-month extension of the NFIP, we are another step closer to accomplishing this goal."

That is true. And Cassidy, along with U.S. Sen. John Kennedy, R-La., has been instrumental in getting Congress to take this stop-gap measure.

The extension will prevent our real estate market from descending into chaos, something that would almost surely happen if home and business buyers were unable to secure flood insurance and satisfy a requirement of their mortgages.

Unfortunately, the bulk of the work lies ahead.

This is not a partisan issue. The availability or lack of affordable flood insurance will affect Americans regardless of ideology. But, like any other issue, it can be hampered by our nation's increasing partisanship and lack of cooperation.

There are some core problems affecting the flood-insurance program. It is in debt because of large payouts following devastating storms in the past.

Its monetary problems are exacerbated by a failure to make sure people who are required to carry flood insurance actually do so. Because there are far fewer policy holders in the system than there should be, less money is going into the program in the form of premiums.

The NFIP also pays a generous portion of its premiums to the insurance companies who sign up policy holders -- even though those insurance companies carry none of the risk of the policies.

Congress could step up enforcement of the coverage requirement. And it could cut back the money it pays insurance agents for simple paperwork. But doing either will take time, patience, cooperation and a herculean effort.

Six months might not be enough time for that to happen. But six months is much better than two weeks.

Editorials represent the opinion of the newspaper, not of any individual.

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