[vonmoltke]

Flood insurance is a national program underwritten by FEMA. We have it on our house in inland New Jersey, because we're on a river.

You may be thinking of the windstorm insurance program. The state of Florida underwrites that, and started it as insurance of last resort after insurers started bailing following Andrew.

[Ididntdothis]

Possible. The point was that people kept building mansions in clearly unsuitable areas and when the private market wouldn’t insure them they made the government do so.