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US flood insurance program sees $11 billion in payments for Texas flooding

  • The U.S. federal flood insurance program estimates it will pay out $11 billion for flooding in Texas caused by Hurricane Harvey.
  • The payment will be made more quickly to homeowners who do not object to their adjustors' determinations.
A car gets towed while men walk in the flooded waters of Telephone Rd. in Houston, Texas on August 30, 2017.
Thomas B. Shea | AFP | Getty Images
A car gets towed while men walk in the flooded waters of Telephone Rd. in Houston, Texas on August 30, 2017.

The U.S. federal flood insurance program estimates it will make $11 billion in payments through the government-run program for flooding in Texas caused by Hurricane Harvey, the program's administrator Roy Wright said on Wednesday.

Additionally, in an attempt to make those payments more quickly, homeowners who do not object to the determination made by adjustors will be able to receive their payouts without completing additional paperwork, Wright said.