Catastrophe risk modeling firm AIR Worldwide has released its “Coastline at Risk” analysis containing AIR’s most recent estimates of the total insured value of residential and commercial properties in states along the Eastern Seaboard and Gulf Coast of the United States. Despite the rising risk from hurricanes, the population along the coast has continued to… Continue reading AIR Worldwide Provides Updated Coastline at Risk Analysis
Tag: flood insurance
Homes Are Being Built the Fastest in Many Flood-Prone Areas, Study Finds
In many coastal states, flood-prone areas have seen the highest rates of home construction since 2010, a study found, suggesting that the risks of climate change have yet to fundamentally change people’s behavior. The study, by Climate Central, a New Jersey research group, looked at the 10-year flood risk zone — the area with a… Continue reading Homes Are Being Built the Fastest in Many Flood-Prone Areas, Study Finds
FEMA to Further Restrict Puerto Rico’s Access to Relief Funds
Federal mistrust toward Puerto Rico amid corruption allegations hasn’t let up with the governor’s resignation. Citing the continuing leadership changes in the U.S. territory, the Federal Emergency Management Agency said Thursday it would further restrict Puerto Rico’s access to federal dollars for repairing hurricane damage. Puerto Rico must receive approval from the agency to draw… Continue reading FEMA to Further Restrict Puerto Rico’s Access to Relief Funds
As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
California regulators are teaming up with the United Nations to develop “sustainable insurance” guidelines that would help address climate-change-related disasters such as coastal flooding and larger wildfires — the first such partnership of its kind between the international organization and a U.S. state, officials announced Tuesday. After a roundtable discussion at UCLA with lawmakers, state… Continue reading As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
Outdated FEMA Flood Maps Cost Uninsured Homeowners Millions
Mexico Beach, Florida, was ground zero for Hurricane Michael, destroying 70% of the resort community’s homes and businesses with its Category 5 winds and 18-foot storm surge. Because its flood maps hadn’t been updated in 10 years, 80% of those structures were uninsured because FEMA placed them in flood zone “X” – areas that have… Continue reading Outdated FEMA Flood Maps Cost Uninsured Homeowners Millions
Hurricane Barry is Estimated to Have Caused Between $500M-$900M in Flood and Wind Losses
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today announced residential and commercial flood and wind loss estimates for Hurricane Barry. According to this data analysis, flood loss for residential and commercial properties in Louisiana is estimated to be between $200 million and $400 million which includes both storm surge and inland… Continue reading Hurricane Barry is Estimated to Have Caused Between $500M-$900M in Flood and Wind Losses
Louisiana Senators Work on Bipartisan Bill to Improve National Flood Insurance Program
Tropical Storm Barry has come and gone in Louisiana and in it’s aftermath there was flooding and damage. Senator Bill Cassidy said this storm could’ve been much worse for the state. “The lack of flooding was a testament to investment in mitigation and preparation on the state level and the community level,” Cassidy said. Even… Continue reading Louisiana Senators Work on Bipartisan Bill to Improve National Flood Insurance Program
Flood Risk Continues in Louisiana as Storm Barry Crawls Inland
The impact of Storm Barry in Louisiana appears to have been better than initially feared, but authorities have warned that the risk of flooding remains high as Barry continues its slow crawl across the state. Barry made landfall 160 miles west of New Orleans on Sunday as a Category 1 hurricane, but only reached maximum… Continue reading Flood Risk Continues in Louisiana as Storm Barry Crawls Inland
U.S. Ties Record for Number of High Tide Flooding Days in 2018
Coastal communities across the U.S. continued to see increased high tide flooding last year, forcing their residents and visitors to deal with flooded shorelines, streets and basements — a trend that is expected to continue this year. The elevated water levels affected coastal economies, tourism and crucial infrastructure like septic systems and stormwater systems, according… Continue reading U.S. Ties Record for Number of High Tide Flooding Days in 2018
Tropical Storm Barry Becomes Second Named Storm of 2019 Atlantic Hurricane Season; Storm Surge Warning Issued
Tropical Storm Barry became the second named storm of the 2019 Atlantic hurricane season Thursday, and may make landfall as a hurricane along the northern Gulf Coast this weekend, bringing major flooding rainfall, storm-surge flooding and high winds to parts of Louisiana, Mississippi and Alabama. U.S. Air Force Reserve and NOAA Hurricane Hunter aircraft found… Continue reading Tropical Storm Barry Becomes Second Named Storm of 2019 Atlantic Hurricane Season; Storm Surge Warning Issued