Why the government's flood insurance program is underwater

Rising flooding events are wreaking havoc across the U.S., yet homeowners find themselves with limited flood insurance options. The National Flood Insurance Program is drowning in debt, struggling to stay afloat despite its role as the primary provider. The history of flooding in places like Waterbury, Vermont, reveals community challenges and the industry's hesitance to insure high-risk areas. Meanwhile, outdated flood maps and misaligned incentives complicate the program's reform, creating a costly dilemma for taxpayers.