FEMA Criticized on Flood Insurance Policies

The agency that sets the rules for government-backed flood insurance policies lacks basic controls to avoid fraud or waste.

PALM COAST,FL – March 17, 2016 – The agency that sets the rules for government-backed flood insurance policies lacks basic controls to avoid fraud or waste, or to identify systemic problems, a federal watchdog said Tuesday.

The report by the Inspector General’s Office for the Department of Homeland Security reinforced questions raised after Superstorm Sandy about the coverage that hundreds of thousands of New Jersey property owners buy from private companies, many of them because federal law requires it. <More>