Nelson calls for US government to exit flood insurance

Lloyd's chairman John Nelson has called on the US government
to stop providing residential flood cover, the Financial
Times reported yesterday (15 May).
Nelson argued that state support had become unsustainable and
encouraged irresponsible housebuilding.
Lloyd's said that Washington should be largely "out of
the risk-taking business" and that the private sector should
pick up the policies, bar some essentially uninsurable risks, the
Financial Times reported.
However, one US insurance executive s