Reliable long-run flood loss data did not exist to price the program

Evidence

Completely creditable estimates on flood damages over the years have not been available. The Army engineers have maintained statistics and the insurance companies have certain statistics. — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process, 2527

Categorization

• XREF: connects to: Flood insurance cannot be actuarially self-supporting because risk is unpredictable — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process: Basic Problems in…, 1781