Areas with Flood Insurance Policy Sales Potential

GAO compared the number of NFIP policies in a given area, as of September 2006, with the total number of county flood declarations from January 1980 to June 2008, cumulative flood claims payments from January 1978 to April 2008, and population as of 2004 for counties and 2005 for states. The following are the examples GAO found:

Some Midwestern and Northeastern states and counties appear to have a higher history of flood losses relative to policy counts than others. Some examples:

• The five combined states of Iowa, Michigan, Minnesota, Missouri, and Wisconsin, when compared to Collier County, Florida, had more county flood disaster declarations (2,092 vs. 12), significantly more flood claims payments ($704,706,000 versus $12,483,000), and a much larger population (28,906,000 vs. 297,000), but a similar number of NFIP policies (80,572 vs. 85,246).
• Maine, when compared to Idaho, had significantly more flood claim payments ($36,332,000 vs. $4,754,000) and county flood disaster declarations (159 vs. 42), but a similar number of NFIP policies (7,891 vs. 7,079). The states also had similar populations: 1,285,000 for Maine and 1,480,000 for Idaho.
• Wisconsin, when compared to Rhode Island, had many more county flood disaster declarations (276 vs. 11), but had similar flood claims payments ($32,693,000 vs. $34,219,000). Even though Wisconsin has a much larger population (5,479,000 versus 1,012,000), it has a similar number of NFIP policies (12,945 vs. 14,432).

Sixty-six counties with flood disaster declarations but no communities in NFIP.

Selected examples:

• Clay County, Alabama (population 14,092) has had seven flood declarations.
• San Francisco County, California (744,230) has had three flood declarations.
• Henry County, Iowa (20,258) has had six flood declarations.
• Winneshiek County, Iowa (21,188) has had seven flood declarations.
• Adair County, Kentucky (17,575) has had six flood declarations.
• Dallas County, Missouri (16,328) has had eight flood declarations.

Counties with flood disaster declarations but very few NFIP policies:

GAO found 14 counties, all with populations over 100,000, with one or more flood declarations but very few NFIP policies, including:

• Potter County, Texas (118,000) has had three flood disaster declarations but had only six policies.
• Bibb County, Georgia (155,000) has had four flood disaster declarations but only 13 policies.
• Carroll County, Georgia (102,000) has had six flood disaster declarations but had only 83 policies.