Ex-FEMA official says flood insurance program in ‘desperate’ need of overhaul

The National Flood Insurance Program is overdue for reform, according to Daniel Kaniewski, a former deputy administrator at the Federal Emergency Management Agency.

Legislative changes are required to help reduce the cost of flood insurance for American homeowners and renters, Kaniewski, who’s now a managing director at Marsh McLennan, said Friday in a Bloomberg Television interview. While FEMA, which administers the program, has laid out proposals to amend it, no action has been taken yet, he said.

“Until there are reforms made to the NFIP, we’re going to be dealing with this situation again and again in the future,” Kaniewski said, days after Hurricane Milton lashed Florida and about two weeks following Hurricane Helene, which caused catastrophic flooding far inland.