Oklahoma flood insurance may rise

 
BY ANN KELLEY | Published: December 4, 2008   
photo - A federal report’s recommendations could mean higher flood insurance rates for Oklahomans, who have been hit hard in recent years. AP ARCHIVE PHOTO
A federal report’s recommendations could mean higher flood insurance rates for Oklahomans, who have been hit hard in recent years. AP ARCHIVE PHOTO

A federal study recommending an overhaul of flood insurance rates could lead to an increase in premiums for more than 16,000 Oklahomans.

The study by the U.S. Government Accountability Office was released this week. It stems from concerns about the financial stability of the National Flood Insurance Program that, after Hurricane Katrina, was left with a $17.4 billion debt.

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The report takes aim at the Federal Emergency Management Agency, the organization that calculates the rates for flood insurance in the U.S.

While most of the $17.4 billion overage was...
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