Federal solutions to a state-regulated industry should be carefully considered, as evidenced by the fact that federal taxpayers are currently at risk from $20.525 billion debt already owed by the National Flood Insurance Program, according to the APCIA.
Tag: flood
U.S. High Tide Flooding Continues to Break Records
Coastal communities in eight locations along the East and West coasts experienced record high tide flooding last year — a trend that is expected to continue in 2024.
Climate Change Could Cost U.S. Budget $2 Trillion Annually by End Century
Flood, fire, and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year by the end of the century, the White House said in its first ever such assessment on Sunday. The Office of Management and Budget assessment, tasked by President Joe Biden last May, found the… Continue reading Climate Change Could Cost U.S. Budget $2 Trillion Annually by End Century
Flooding, Record Rainfall Mapped Along Ida’s Path
Residual rain from Hurricane Ida hit the Northeast. Despite early forecasts suggesting 3 to 6 inches for the day, the region was walloped by the post-tropical cyclone. At least 40 people died in the region amid tornadoes, record-breaking rainfall, flash flooding and power outages. The large weather system spanned from Baltimore to Boston Wednesday, dropping… Continue reading Flooding, Record Rainfall Mapped Along Ida’s Path
Climate Change Could Make Insurance Too Expensive for Most People: Report
Insurers have warned that climate change could make cover for ordinary people unaffordable after the world’s largest reinsurance firm blamed global warming for $24bn of losses in the Californian wildfires. Ernst Rauch, Munich Re’s chief climatologist, told the Guardian that the costs could soon be widely felt, with premium rises already under discussion with clients… Continue reading Climate Change Could Make Insurance Too Expensive for Most People: Report