That is because 90% of the people have no comprehension that the government’s money is the PEOPLE’s money. If the government is underwriting insurance policies, what they are in effect doing is forcing the taxpayers to pay for the damages suffered by a select group of people’s stupidity. Insurance is supposed to be a contingency based system, like car insurance…it goes into effect in the event an unplanned, unforseen crisis happens. Building a house in an area that is nearly guaranteed to suffer damage is just plain stupid (the working definition of stupid being that you know something will go wrong, but do it anyway). It like smoking. Smokers should be flatly denied insurance coverage for things like lung cancer, emphysema, asthma, coronary artery disease, etc… Smoking causes these things. To give someone insurance when it is nearly guaranteed that they will develop these health conditions is foolish.
Giving someone flood insurance who lives in New Orleans (which is built 10 feet below sea level…on the coast) is just plain stupid. Insurance companies should just flat out tell people who live in “loss-prone” areas that if they suffer a property loss due to the existing conditions, then they are (blank) out of luck. The taxpayers shouldn’t be on the hook to cover that loss.