Hurricane Sandy-related claims are pouring into the troubled government-run National Flood Insurance Program ? and Congress is girding for revived battles over the program?s debts.
The NFIP, America?s only provider of flood insurance, faces an estimated $6 billion to $12 billion in new claims from Sandy, according to the Federal Emergency Management Agency.
The NFIP, which is about $18 billion in debt after Hurricane Katrina, has only $2.9 billion left in borrowing authority, Edward Connor, FEMA?s deputy associate administrator for federal insurance told a meeting last week, according to news reports.
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