EDITORIAL: Long-term solution needed for flood insurance program

Nov. 18--It's the issue that never fades completely from the national political scene.

Because of its refusal to address a long-term solution that will make the National Flood Insurance Program viable and stable, Congress is once again faced with having to take last-minute action to stave off the program's expiration.

Even the proposal this time around will extend the program for just six months from its current expiration date of Nov. 30.

Congress does need to approve the extension. But as importantly, our national leaders need to recognize the flood program for the vital public service it is and devote some leadership to getting a solution implemented. Doing so is the only thing that will keep this issue from rearing its ugly head every several months and spreading dread through the areas where the program is most heavily used -- including south Louisiana.

"I am increasingly frustrated that we haven't made long-term fixes to the NFIP," U.S. Sen. John Kennedy, R-La., said in a joint news release with the measure's other sponsors. "However, this program is absolutely necessary to more than 5 million American homes and businesses. We must ensure that Louisiana families as well as families across the United States remain protected past this expiration. My bill will prevent the program from expiring while we work on much-needed reforms."

This issue goes beyond the many people who carry flood insurance through the federally subsidized program, though it is especially important to them. Even a temporary expiration of the NFIP could throw chaos into the real estate market, since that coverage is required by banks and mortgage companies as a condition of most property loans.

And of course, the people who protect their lives' largest investments will it stand to lose a great deal if it is allowed to expire.

Some in Congress have worried about the program's debt, but there are simple, common sense reforms that could put it on much more stable ground financially. Congress could make lenders do more to ensure that those who are required to carry the coverage actually do so. That would increase the people paying premiums into the system. It could also cut back on the overly generous percentages the program pays insurance agents who sell flood insurance policies but who carry none of the risk.

There are answers to many of the problems plaguing the program. But fixing them will take leadership and commitment. In the meantime, it is absolutely necessary for Congress to act on this latest extension.

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

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