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INDUSTRY NEWS

Report on Persistent Fiscal Exposure Despite Property Acquisitions

The Government Accountability Office (GAO) has released a report regarding the efficacy of using FEMA grants to acquire repetitive loss properties to the NFIP's overall and long-term fiscal exposure.  Findings reveal that although acquisition and demolition of these properties reduces certain risks to the program, highly-subsidized premium rates across the program continue to pose a significant challenge to ensuring solvency.