host: let's put on the screen information about the national flood insurance program. congress needs to reauthorize it when lawmakers return on tuesday and the deadline is the end of september. right now, that flood insurance program is nearly $25 billion in debt because private insurance companies have realized they cannot make money off these flood insurance programs. you mention some numbers. let's put a couple of those on the table. if you live in a high flood zone area, i've been told he will pay approximately $1500 a year in flood insurance. if you live in an area that might have a flood but not in a high flood zone area, your insurance rate for the flood insurance program is about $500. is that enough to sustain the program? guest: in part. let's look at -- look at the book of businesses i have. have 5 million policies and normals 80% of those are actually priced. people are paying with commensurate for the risk and of sufficient for the program to function. by law, a little over 20% of our policies receive discounts. and those discounts are particularly for hom

but it's not as if you have the flood insurance through the national flood insurance program. so, you may be eligible for some grants and loans, but of course, with the loans, those are--those would have to be repaid. erin: so again, just to be clear, a basic homeowner's policy does not cover flooding. jocelyn: it does not. erin: all right, how do you go about getting flood insurance? jocelyn: so, if you're in an area that is considered in a flood zone, you would get your coverage, it's through the national flood insurance program, but you would go through your normal property and casualty agent. so, if you have state farm, allstate, you would go through your agent in order to get that coverage. erin: can you buy flood insurance privately if you are not in a flood zone, but you feel you may just need it or want it? you know, i want that extra level of protection. jocelyn: yes. so, most people think that you may live in an area that's never flooded, so you don't have to worry about getting insurance. now, because we are in the time where the hurricanes are happening, more peopl

morning, roy a right will talk about the national flood insurance program. then, robert gallucci, former the 1994otiator during north korean nuclear crisis has the latest concerning north korea and its nuclear program. leavitt discusses public health concernsleavitt dy efforts from hurricane harvey. we will take your calls, and you can join the conversation on facebook and twitter. "washington journal" is next. ♪ host: good morning. these are images from north korea as that country overnight announcing its successful test of a powerful nuclear device, claiming it was a hydrogen bomb capable of reaching the united states. president trump is at the white house this morning monitoring the situation. there is this from the washington post, even if the regime is exaggerating its feats, scientific evidence shows north korea has crossed in important threshold,

oastal guest: the national flood insurance program, it is problematic we've taken a sdaft split off into the federal program. you have disasters, whether it things like or wildfires, earthquakes, tornados and other things. should move in two directions. one is move in the direction of policy.l hazard type allow private sector to opposedate in those, as to monopoly on flood insurance. secondly, we can no longer take look at it nce and as just offering insurance, of resillians and vulnerability, if you are annually on ns efforts, the federal government, have you five ederal agencies spevending on resilience, under the flood insurance program. approach and again, if we end up spending more money by continuing to have disconnected approach. host: $25 billion in debt, some debt andr resolve that let it go. guest: we should. first of all, hurricane katrina, around $16 billion of debt attribute to the storm. engineer stood up and said this was engineering failure. he didn't say failure of the policy, it was engineering failure. if that were private sector scenario, the engineering company would

more than 100,000 claims have been submitted under fema's national flood insurance program which its nearly $25 billion in debt. they estimate the cost of harvey alone will reach $11 billion. fema paid $8.6 billion in flood insurance claims. according to a recent report, the national flood insurance program spent $5.5 billion between 1978 and 2015. and repaired more than 30,000 properties that repeatedly flooded. take a hard look at the toll on your family and finances. former fema administrator, craig fugat techlt. >> there is a point at which we deal with repetitive loss it doesn't make sense to keep paying for properties over and over unless we are changing something. either mitigating or elevating that home. or offering buyouts. >> what do you do if it flood again? my husband said third strike and we are out. >> as much as we love it. need to rebuild it. we are beth public school teachers. the cost comes in. houston officials are hoping federal government will buy back homes in the flood prone area. according to the "houston chronicle" they received requests from 1,000 homeowners

. >> this is bryant with the national flood insurance program. do not this property is located in a special flood hazard area? >> could you here, ma'am? is your property in a flood zone? i think we may have lost her. >> ok. let's assume both sides. >> i will address it both ways. there are local communities that in partnership participate with the national flood insurance program and in order to do so, they agreed to adopt a method and some regulations which the regulations are designed to help make development and redevelopment safe from flooding. that process is carried out and in themitting process of promoting they look at the design of the proposed projects and so forth. in general, if your house flooded it would be advisable to go to your local community development department and building department and inquire about a permit and while you are there, inquire about the floodplain development permit because if you are in the special flood area, it is required that you have a floodplain development permit to repair a flood damaged home. if yo

. >> this is fine with the national flood insurance program. you know if this property is located in the hazard area? >> could you hear? was your property or raise your property in a flood zone? i think we may have lost then. okay, assume both sides of it. >> there are vocal communities that in partnership participate with the national flood insurance program. in order to do so, they agreed to adopt a map and some regulations, which the regulations are designed to help make development and redevelopment reasonably safe from flooding. that process is carried out through permitting in the process of permitting with the proposed projects and so forth. in general, and if your house flooded, it would be advisable to go to your local community, development department or building department and acquire a permit and while you are there, inquire about what is called a flood plane development permit. because if you are in the special flood area, and it is required that you have a flood plane development permit to repair a flood damage toll. if you are ou

national flood insurance program. that's the subject paul solman tackles on our weekly economics series, making sense. >> and in 1984, that's the roof we were taken off of. >> reporter: you, you, you went up onto this roof? >> yes. >> reporter: leni shuchter lives in pequannock, new jersey, a little too close to the pompton river, a tributary of the passaic. >> we had, it was a 24-foot boat pulled up alongside the, the roof. >> reporter: how long were you up there? >> about four hours. >> reporter: the spring storms of 1984 were a "once-in-a- century" event. which is why shuchter had no flood insurance. >> it was not classified a flood zone in 1972 when i bought the house. >> reporter: so then, after '84, did you then get flood insurance? >> yes. we had to, because what we were eligible for is a loan that was put out by the small business administration, and part of that was you had to have flood insurance. >> reporter: as it turned out, the so-called 100-year floods moved up their schedule. >> we've had five occurren

if you do have insurance you aren't in the clear because the national flood insurance program is nearly broke. "fox news" chief correspondent mike emanuel has our report. >> this is never flooded in my entire life. initially would have answered about it. the grim realities many of hurricane harvey storm victims did not have flood insurance. >> i wish i would have had it but as you can tell my whole house is destroyed. >> they must decide if they will rebuild here or if it's time to go elsewhere. >> it's up in the air, you know. it's pretty heartbreaking to come home and see all of this and not have insurance. fema is trying to point all these families in the rejection of icing those with insurance activate their national flood insurance policies. for those without the small business administration offers loans to homeowners with a 1.75% interest rate more affordable than tanks or credit cards. for many that would be on top of the mortgage which may be difficult for many residents to juggle. for those with insurance people who dealt with rebuilding after superstorm sandy in new york and

according to a recent report, the national flood insurance program spent $5.5 billion between 1978 and 2015. and repaired more than 30,000 properties that repeatedly flooded. take a hard look at the tall of your family and finances. >> the former fema director. >> there is a point when we deal with repetitive loss. it doesn't make sense to keep paying for the properties over and over again unless we are changing something. either mitigating or elevating the home. or offering buyouts. >> what do you do if it floods again? >> ha-ha. i think my husband has said, third strike and we're out. >> as much as we love this, we need to rebuild. i want to rebuild it. we are beoth public school teachers. the cost comes in. >> houston area officials are hoping the federal government will buy back some homes in the flood prone areas. according to "houston chronicle" they have received requests from about 1,000 homeowners, that are looking to sell. >>> that's the "overnight news" for this wednesday. from the cbs broadcast captioning funded by cbs >>> it's wednesday, september 27th, 2017. this is the "

julia: we have the national flood insurance program coming to an end. we seem to go from crisis to crisis. for these guys to raise money specifically for an event, does to change? reservere have to be a fund in place so they don't see this reaction afterward? howard: there is a problem with a national flood insurance program. $24 billion in debt and the u.s. treasury is only able to about $4 billion. taxpayers across the u.s. are paying for this. there was a lot of hope on the part of industry that when congress three authorize the national flood insurance program they did some creative things to bring the private market back into it and assume more of the risk. it remains to be seen whether that will be able to be done. to gets an urgent need appropriation because of what we saw with texas and harvey and now florida with irma. have a to think it will big impact on the deliberation congress has about the future. scarlet: lower the private sector need to see in order to get more involved? howard: there are things that can be done much better building cod

but the national flood insurance program subsidizes when people can't afford that. they are under water. >> that's right. even when it is expensive, it's not expensive enough to cover the risk there. when you are living in these places, you are taking a risk. they are wonderful places to live but you are not bearing the full cost of living there. we have no choice but to push the cost to the rest of the united states. all of these government-sponsored insurance funds are under funded. and we are seeing that right now. they are $25 billion under water with these national programs. kennedy: i want to talk about hoarding. this is something people get upset about. a proper response is a great marketing tool for companies offering lower prices in the short term, hoping to have longer-term gains. jetblue and frontier offering discounts to people flying out of the hurricane's path. >> one silver lining for a company is it gives them an opportunity to bolster their reputation. to show customers they care about them. they will offer more products at a good price to help peop

flood insurance program. the stress that we put upon it. >> he makes an important point. the reservoirs in houston that are flooded, so as to prevent greater devastation greater loss of life, those reservoirso were designed for a houston that was not paid over to the extent that it is now. you are correct. i do believe we have to have some consideration given to future growth and how we are going to handle development. it just makes good sense to do this. i understand the notion thatay we need regulations that will impact the way we grow in houston texas, but i do say this. we have to ask for money to have those reservoirs conform to the houston that exists. i regret that things have happened the way they have, but i also have to deal with things as they are. i currently have someone who works in our congressional will office who won't be able to get into her home for two weeks. her home is underwater or has water in it to some extent. she has lost everything. she is not a person of great need so we have to d

with reference to the national flood insurance program, there are $20.6 billion that we have to deal with. that as the debt that the program has as a result of sandy and katrina. that amount will increase now as a result of the last hurricane, harvey. we will not be able to pass that on to the people who by flood insurance. premiums will be too high. people won't be able to purchase it. homes won't be purchased and we will see that impact on the economy. there really is a domino impact on how the homes are being built and the relationship between this and flood insurance. we have to make sure we keep these premiums affordable. i am for -- and i save this without question, reservation, or hesitation. that has to be absorbed and we have to move forward with premiums that are affordable for people. we have to do more mapping to make sure that we capture the areas that properly should be included in flood zones. i do believe that as we go through this process that we are going to have to do so with bipartisanship because you're not going to get a bill through the senate that is going to

through the national flood insurance program. that means for over 50 year, if you want flood insurance your best bet is to go to the federal government, which by the way, especially after these two successive storms that have just hit texas and florida, is going to be over $30 billion in debt. -- in debt. if we don't do something to save the taxpayers of this program that cannot actuarially support itself, we are doing a total disservice to our constituency and to our country. so what is part of the underlying bill that this rule will allow is the market parity act that will allow consumers to have a choice between the existing flood insurance program, which is significantly in debt, or to have the private sector bring in their property, flood insurance program, ensure those -- to insure those risks. in florida in 2004, we had successive hurricanes. that came through my district. and we had billions of dollars paid by fema, paid by nfip. but we had $39 billion paid by the private sector because we had private wind storm insurance

but the national flood insurance program subsidizes when people can't afford that. they are under water. >> that's right. even when it is expensive, it's not expensive enough to cover the risk there. when you are living in these places, you are taking a risk. they are wonderful places to live but you are not bearing the full cost of living there. we have no choice but to push the cost to the rest of the united states. all of these government-sponsored insurance funds are under funded. and we are seeing that right now. they are $25 billion under water with these national programs. kennedy: i want to talk about hoarding. this is something people get upset about. a proper response is a great marketing tool for companies offering lower prices in the short term, hoping to have longer-term gains. jetblue and frontier offering discounts to people flying out of the hurricane's path. >> one silver lining for a company is it gives them an opportunity to bolster their reputation. to show customers they care about them. they will offer more products at a good price to help peop

the national flood insurance program is over $25 billion in debt and continues to ensure properties that have been destroyed by storms again and again. >> the national flood insurance program makes the devastation caused by hurricanes such as harvey ends be 21 a much worse because it encourages, through subsidies, for people to build in flood prone areas and rebuilding in those areas. too many homes in areas where they shouldn't be built. the federal government is subsidizing the activity. >> also government mortgage-backed securities which helped precipitate the financial crisis of 2008. the program still exist. and then there's the moral hazard associate with all his government insurance programs. whether it's the precarious condition of one's own body or the precarious condition of one's seaside home. human nature suggests people are less inclined to make good choices going taxpayers will foot the repair bills for bad choices. >> bret: we will have more of a cost of spending. small-town america is said to be experiencing something of a resurgence. tonight we learn what factors are con

flood insurance is backed by the government's national flood insurance program and is sold by special brokers. frequently, it's not the same as your homeowner's insurance broker. fourth, federally backed flood insurance limits you to $25000 for the house and $100,000 for what's inside. that is frequently far less than what homeowners need. you might need to buy more from a broker. after bob went through with isabel, his flood insurance rates went down after he jacked up the house a foot higher than the flood line. >> i put it up a foot. i would rather walk up steps than go through this. >> reporter: in houston, 80% of the victims did not have flood victims. only 12% of americans do. scott broom, wusa 9. >> wow. and a footnote. experts tell us that you wait until a hurricane is knocking at the door to get that flood insurance. policies do not kick in until 30 days after they have been approved. >> something for all of us to think about. >>> still ahead, a survive of hurricane andrew recalls the destruction in south florida and talks about what people in irma's path may have to endure.

the national flood insurance program if you are a policyholder, once you return home, please call your private insurer to activate that policy if you've had damage and we can begin to process -- begin the process to have money flowing to help you in that regard. the other thing here is, you know, we're also watching the continuing situation in jacksonville. overnight jacksonville and the areas around the st. johns river were heavily impacted. we're still conducting some life safety missions in and around that area because of the flooding. we were very aware of it last night and continuing to support our state and local partners there. again, this issue is passing through. there's large-scale power outages in almost -- and almost a million people in georgia without power today as well. but we have been working with our partners at the department of energy to prestage power crews not only in florida but all over the southeastern united states. but let me reiterate, you know, it takes a long time for this infrastructure to come back up. it may take multiple days if not weeks in some areas

that only your personal insurance but also to the nfip program, the national flood insurance program if your policyholder. want to return home please call your private insurer to activate that policy if you do damage and we can begin to process, begin the process to money flow to help in that regard. the other thing here is that we are also watching the continued situation in jacksonville. overnight jacksonville and the areas around the st. john's river were heavily impacted. we're still conducting some life safety missions in and around the area because of the flooding. we were very aware of it last night and continue to spar state and local partners. i given this issue is passing to pick there's large scale power outages in almost when the people in without power today as well. but we've been working with our partners at the department of energy to restage power present only in florida all over the south eastern united states. let me reiterate, it takes a long time for this unprotected to come back up pick it may take multiple dates if not weeks in some areas as we been seen before

critics say the national flood insurance program that insures mar-a- lago benefits mostly wealthy people who choose to live on high-risk beachfront property. the agency owes around $25 billion to the u.s. treasury. the insurance program was due to expire at the end of the month, but was temporarily extended by legislation signed by the president on friday. coming up on kron four news weekend... hurricane irma has made landfall. we'll have a live report from fort meyers florida. with all the recent storms in the south.. many are wondering how to prepare when the next disaster strikes. we'll explain the tips experts recommend to those living in the bay area. and after the break.. an update on the deadly quake that hit mexico (ááátake liveááá) hurricane irma is here and battering the coast of florida. it has made landfall. president trump has approved emergency declarations for not only in florida, but also georgia, south carolina, puerto rico and the virgin islands. here is a live look at the storm hitting fort lauderdale this morning. the hurricane is centered just 30 miles out of k

the agency's national flood insurance program is nearly $25 billion in debt. and it estimates that claims from harvey alone could reach $11 billion. to track the path of hurricane maria right there on your smartphone, just free wusa9 app. >>> let's shift gears a little bit. an iconic annapolis landmark was sold. now the question is will it change? people are in disbelief. they're stunned, and scott broom is there this evening. >> reporter: chicken ruth's deli in annapolis, it's been here 52 years. >> it wouldn't be the same without chicken ruth's. >> reporter: it's an awesome place. the owner will blow you away with magic tricks. >> been a great run with a lot of great people. >> i love this place. >> reporter: you meet guys like bill atkins, who was an extra in a john wayne movie once, so they gave him a john wayne booth. meanwhile, a booth reserved all the time fo governor. governors use it all the time. the place is packed with lobbiests, and regulars. they still say the pledge of allegiance every morning. so what's this? the leavitts have sold the place? >

of harvey. >> the head of national flood insurance program is calling this, quote, alarming. the number of flood insurance policies has sunk 10% in the last five years. they report that about 5 million properties have federal flood insurance. in houston, the fourth largest city, only about 8% of the area in high risk areas have insurance. the director of the program wants policies sold and limit construction in high risk flood zones. >>> at times like this we show the world more unites us than divides us. students used the football game to get backpacks for victims of hurricane harvey. >> we wanted to do our part to help houston and make a impact. >> at a table near the main admission gate to mcclan high school football feed, the backpacks and other school supplies kept coming. many came from the parents and students of marshal high school. mcclan's opponent for its first home game. two sides on the field. >> go marshal. but they were united in the desire to help kids whose homes, schools, and possessings were destroyed by flood waters. >> hey, backpack. >> we have so much up

and bruce, already, the national flood insurance program is $23 billion in debt. this storm could make it go up another 10 to $15 billion in debt. there doesn't seem to be any end to it. >> well, here is the problem with private insurance managing big risks and so forth. they're only good at it, until they're not. you can look at that in other industries, whether it be aig in financial or health insurance companies that did well in the first two years of obamacare and didn't, weren't an i believe to manage it and then they got out. if you have private insurance companies and they start to lose a little money like the government is, nethey'll bail o and leave everybody holding the bag. david: i'm not sure. the bottom line is simple mathematics, john tamny. the program does not charge rates high enough to offset the costs, right? >> let's be clear. no one would ever knowingly pild in a place where they thought they would lose their house in a flood. no amount of insurance would make it worth it. the big thing here is that market signals matter. they're valuable. if

fema says the national flood insurance program has already paid $347 million to harvey victims. we're at a home in houston with one family's difficult choices. omar, good morning. >> reporter: good morning. during hurricane harvey, 27 inches of water flooded the home and this trash pile represented all that's left of their belongings. home has flooded, but it may be the last time that they rebuild. >> it's not just bricks and wood. it's our home. >> reporter: rachel, her husband and two teenagers live in a house that's been here for 52 years. six inches of flood water from tropical storm allison crept into the house in 2001. but last month during hurricane harvey, more than two feet of water inundated the home. the ber gans isn't have flood insurance. >> would you consider getting flood insurance now? >> with allison it was 6 inches. this is much more devastating. this is walls, this is furniture. thank goodness things can be replaced. >> reporter: fema is still assessing flood damage from hurricanes irma and harvey. as of saturday more than 100,000 the national flood insurance

which is why national flood insurance program is in financial problems that it's in right now. runs ok in years where there isn't a lot of flooding but in years like this, it's terribly in the red. i think there will be a debate on hill about what's the right way to do flood insurance going forward. this year is really going to bring a lot of attention to flooding and flood insurance. >> and as we head out, one last question, i remember after hurricane katrina, there was a lot of debate on capitol people were saying why are we fund, the rebuilding of new orleans, because they're already under the ocean level. so as you move the best approach? what do you think moving forward people should pursue? the government should pursue in terms of stabilizing the flood insurance markets >> there's really two questions there. in terms of stabilizing, in near term it's going to have to be taxpayers, there's no other choice. in the longer term, the flood zones need to be mapped out correctly and they need to figure out a competitive environment that gets it priced properly >> dan carr. >> le

fema's national flood insurance program is set to expire on september 30th unless congress can agree on a long-term solution to the program's ballooning debt. that dealt has grown from zero to almost $25 billion due to an increase in massive flood disasters. that debt is only going to get worse as claims related to hurricane harvey, those are going to start to come in, no doubt. experts have now suggested more money go into hazard mitigation and disaster preparedness in order to lower the need for insurance pay outs after disaster strikes. joining me now is new york senator to do ka minimum ski whose long island district received $40 million after super storm sandy. catastrophe coordinator. let me start with you here, senator. what worked, you think, because, again, your district received $ $40 million in hazard mitigation funds during super storm sandy. does the system still work, do you think? >> look, there's no doubt that people who live in coastal communities feel that they're being priced out of their homes. flood insurance has become ridiculously expensive for them. but what w

flood insurance program in the wake of hurricane harvey. nbc's tracie potts is here with a look at congress' return. what else is on the agenda? >> reporter: yes, it's going to be a busy month. in addition to making sure america can pay its bills, in addition to making sure that we prevent a government shutdown, lawmakers here have to reauthorize children's health insurance, they need to reauthorize the faa, the federal aviation administration, and they need to take a look at emergency aid for hurricane harvey victims for these storm and flooding victims that we're seeing in texas. there is a lot of demand. so far the government has who need disaster assistance, they're getting 900 calls an hour, officials say. some of that money is being shifted around within fema. in fact, a committee here on capitol hill has already given final approval to shifting another $500 million. but that's a drop in the bucket. they're going to need a lot more than that. vice president pence was in texas promising that every texas family and every texas business

there a gap between what the national flood insurance program will cover and what individuals can't cover? >> flood insurance is a huge debate in congress right now. huge debate among regulators, especially in the run up to september 30th which is the date the nfip authorization was set to expire. on friday, president trump extended that for another three months. and one of the options on the table is to allow more private insurance companies to write private insurance. so the nfip would not be saddled with huge debts such as those that came in the wake of hurricane katrina and hurricane sandy. >> sreenivasan: is there a worry that the flood insurance program could look like the health insurance program is looking, how private insurers work with the nfi pmplets? >> it is an issue. one of the issues we are eeg now with the flood insurance market is so many homeowners are required to have nfip coverage as a condition of their mortgage. the concern that critics of 45th flood insurance have is allowing too many into the area and loosening those restrictions and allowing private flood insurers

>> they tried this in the 60's before the national flood insurance program was created. one of the reasons it was created was because the private companies fled when the risks got too high. i don't think if you privatized it you would prevent a potential bailout down the road. david: we've got a bailout, $23 billion in debt, this insurance program, we've got to pay for that. >> i don't know why the taxpayers have to be the cushion here, the bailout for this. i get it, theres' economic growth in these areas, i think that john tamny is right. look how cheap it in texas, only $500 a year when there are thousands in costs, it's about incentives and not building in flood planes. david: steve, is it politically possible to make the case now? people are still suffering. >> politically you can't do it now, david and and humanely you can't. thises about the future, in the future we should be phasing in more and more private insurance. there are plenty of competitors in the property and casualty industry. you've got reinsurance and need to engain in litigation reform which has bee

the faa and national flood insurance program also need to be funded past this month. >>> and this morning south korea conducted another live fire exercise in the wake of north korea's latest nuclear test. the u.s. agreed to allow south korea to beef up its missile system as the u.n. security council held its second emergency meeting about the north in a week. seth lemon is here in new york. good morning. >> reporter: good morning. pyongyang's push toward viable missiles continues to garner international spotlight. seoul says north korea looks to be planning a future missile launch. it's put south korea on guard as well as the united states. for the second day in a row south korea's military conducted live fire drills in a show of force against north korea. this time using warships. on monday the u.n. security council held an emergency meeting on the north's weekend test of its most powerful nuclear device to date. a hydrogen bomb according to pyongyang. >> he is begging for war. war is never something the united states wants. we don't want it now. but our country's patience is not unlimit

flood insurance program, everybody in the state of florida will have to have wind insurance and a lot will come from target capital as a result of private insurance. granted, they will not cover all, but it is more than saying the federal government has to pay the full bill. if you live in florida, you have to have windstorm insurance, which is part of your homeowners policy. if you do not have your homeowners policy, you have to avail yourself to the federal programs, but i would say a large part because of mortgages after that require insurance, homeowners insurance, and because you live in florida with a windstorm policy, a lot of capital will come to private insurance companies. as it should, instead of relying on the total government. the federal government will be there, as we were in harvey, we will be there. that is our foremost sponsor ability, but it will not be all at the expense of the federal government. host: we are talking with congressman dennis ross. he is joining us on the phone this sunday. on friday, you have the chance to fight over hurricane irma, a massive storm

insurance as hurricanes increase in their frosty the federally backed national flood insurance program is nearly twenty five billion dollars in debt now in florida the aftermath of hurricane irma has faced more than one million residents in the forty eight counties affected they are set to register for federal disaster assistance and in the u.s. commonwealth of puerto rico president donald trump officially declared hurricane erma a major disaster that's setting that place up for more aid.

the because rates are better than national flood insurance program. they do more underwriting things like that. it allows people to buy excess insurance. in other words your home under national flood program is limited to $250,000. these private carriers sell excess above that. $500,000 is what the national flood program pays for businesses. it goes way above that. connell: right, so the national flood program, even, say you have a beachfront property like a home along the ocean in florida, that is only 250 then, right? obviously home is lot more than that. you fill in the blanks with the private if into that is what people do. called excess flood insurance. a lot of people in superstorm sandy, new jersey shore, hamptons, long island area found about availability of excess flood insurance. some people had it. many did not. connell: that is the problem, you find out too late. you almost feel bad because the conversation tonight is too late. how long do you have to be out ahead of something like this before you're too late. >> 30 day window. they stop s

at least 51,000 claims have been filed with fema's national flood insurance program, but many victims have no flood insurance. here's jim axelrod. >> reporter: in crosby, texas, the floodwaters in consuelo ibarra's kitchen, the one she finished remodeling just last week, rose to her knees. >> whitewater got all the way in to the top. >> reporter: but like so many others, since her home is it outside fema's map of high-risk flood areas, she did not buy any flood insurance. >> we were always theeld we were not in a flood zone so we didn't need to get it. >> it's going to be somewhere around 15% of the homeowners in the affected area that have flood insurance. >> reporter: do the math, says mark hanna, of the insurance council of texas, and that means five out of every six flood victims have no flood insurance, even though the cost was as little as a few hundred dollars a year for those outside the flood plain. >> we're talking about thousands of people who are just now getting back to their home, seeing that they've got considerable flood damage, and they're going to do what they can. b

hundreds of thousands of claims are expected to be filed with the national flood insurance program. however, the system is set to expire september 30th unless congress can reach a deal to keep it going. the trump administration says the program has enough money to meet harvey claims through late fall. criticism in the past for poor customer service and accruing billions of dollars in debt. >> a man wanted for firing a gun at a person inside the columbia heights metro station last week has been arrested. montgomery county police say 22-year-old caesar morales was apprehended last night. d.c. police say mo morales was changing a victim around 12:15. he pulled out a handgun and fired. they both fled the scene. >> reporter: barely september but we're talking about snow removal in virginia and that is because the feds busted a snow removal bribery scheme. they arrestd two virginia transportation officials and the heads of several snow removal businesses. andy wiley kenny dwayne adams accused of exchanging cash bribes for contracts. this began in 2013 and continued each winter through 201

flood insurance program. hurricane sandy was $20 billion plus i think another $10 billion from the insurance program. this storm here, hurricane harvey, we're hearing estimates of 100,000 homes affected, the entire harris county metro area. i think it's certainly on par with katrina, probably even possibly bigger than that. >> i know governor abbott has said $125 billion. sheila jackson lee, whose constituents are there in houston, has said $150 billion. it is extraordinary to try to get your head around those firgd figures. tim manning, thank you for your insights. i appreciate it, sir. >>> hurricane harvey has president trump's first test when it comes to a crisis, so how did he do? we'll find out from our panel, next. oh, you brought butch. yeah! (butch growls at man) he's looking at me right now, isn't he? yup. (butch barks at man) butch is like an old soul that just hates my guts. (laughs) (vo) you can never have too many faithful companions. introducing the all-new crosstrek. love is out there. find it

insurance as hurricanes increase in their ferocity the federally backed national flood insurance program is nearly twenty five billion dollars in debt now in florida the aftermath of hurricane irma has faced more than one million residents in the forty eight counties affected they are set to register for federal disaster assistance and in the u.s. commonwealth of puerto rico president donald trump officially declared hurricane erma a major disaster that's setting that place up for more aid. opec now. actions met in vienna today to discuss if they and several non opec members should continue production cuts which have been in place since late last year the effort was to bring oil supply and the demand more in line to raise prices let's get into what occurred today and get the take from former u.s. trading commissioner bart chilton part thanks for joining me on this a lot of eyes were on c.n.n. today what took place in this meeting and what does it mean for us moving forward and lindsey well you know this cut that they had which was one point eight million barrels a day production cut they