NPR Planet Money did an episode on this: "The National Flood Insurance Program (NFIP) is $30 billion in debt to the U.S. Treasury. If it were a private company, it would be bankrupt. And instead of preventing risky behavior, the NFIP may be encouraging it. Among the NFIP's many problems are houses that flood again and again and again. Throughout the program's history, one percent of homes have been responsible for more than 25 percent of the claims. The NFIP can't drop these homes."
https://www.npr.org/sections/money/2017/09/29/554603161/epis...