WASHINGTON Nov 14 The federal government's
flood insurance program may not have access to enough funds to
cover anticipated claims from Hurricane Sandy victims, a top
official at the Federal Emergency Management Agency said on
Edward Connor, FEMA's deputy associate administrator for
federal insurance, told an insurance advisory panel on Thursday
that his agency is projecting a flurry of flood-related claims
in the neighborhood of $6 billion to $12 billion.
That is well above FEMA's current borrowing power, he said,
which is maxed out at $2.9 billion. To extend it would require
authorization from Congress, something Connor said he expects
the Homeland Security Department will request soon.