Climate

Climate change is increasing flood risk around the country. Insurance rates are not keeping pace, report finds

Currently, there are nearly 4.3 million residential properties around the country with a substantial risk of financial loss due to flooding. The report defines “substantial risk” as carrying a 1% chance of flooding in any year.

Some, but not all, of those homeowners have insurance through the federal government’s National Flood Insurance Program (NFIP), which provides more than 90% of the flood insurance policies in the US.
But the report finds that those homes face losses each year which dwarf the costs of their NFIP premiums. The average NFIP premium cost today for those properties is around $981,
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Natural Gas Battles Local Climate Efforts : NPR

Tyler Hollon, who works for a construction company in Utah, says eliminating natural gas from apartment buildings can reduce costs. Hollon’s company now shares its designs and budgets with other builders. “The reason we’re giving it away is to clean up the air,” Hollon says. “We want everybody to do it. It’s everybody’s air that we’re all breathing. Makes my mountain bike ride that much easier.”

Kim Raff for NPR


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Kim Raff for NPR

Facing the rising threat of wildfire and extreme drought, Flagstaff, Ariz., unveiled an ambitious effort two years ago to cut the heat-trapping

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Climate Threats Could Mean Big Jumps in Insurance Costs This Year

Previous efforts to increase flood insurance rates have been delayed or rolled back in the face of public pressure. In 2012, Congress passed a law that would have brought rates in line with the full risk people faced; two years later, lawmakers backed down, replacing those changes with more modest increases.

FEMA’s new flood insurance system has prompted similar concerns. The new rates were initially supposed to take effect last October, but members of Congress warned FEMA about the effect that increases would have on their constituents. The Trump administration delayed the new rates until this year,

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