Larchmont-Edgewater, a Norfolk, Va., neighborhood frequently plagued by floods. The house in the center has been raised above flood levels; the one at left has not. Photo Credit: Benjamin Lowy for The New York Times
'In 1998, “repetitive-loss properties,” buildings that flood over and over, accounted for 2 percent of N.F.I.P.’s insured properties but 40 percent of its losses; since then, such losses have only increased.'
The NFIP, or National Flood Insurance Program, is finding it's "tens of billions of dollars in debt and federal officials scrambling to bridge the divide between the rapidly growing expense of insuring these properties and the comparatively tiny, taxpayer-subsidized premiums that support it."