The St. Lucie News Tribune reports: Florida insurance regulators are taking an “unprecedented” and “extraordinary” step to try and prevent tens of thousands of homeowners from being forced to look for new property insurance coverage if rating agency Demotech follows through on plans to downgrade many Florida carriers. The Florida Office of Insurance Regulation announced […]
Tag Archives: rising sea level
Florida Insurance Regulators Taking an “unprecedented” and “extraordinary” Step
Posted in Environment, Global Warming, Government, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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Cost of Property Insurance in Florida
Florida Politics reports in their article, As climate in Florida sets ‘new normal,’ cost of property insurance will separate haves, have-nots: “Insurers believe that due to climate change, this is the new normal. They’re finding that catastrophic and non-catastrophic weather events are increasing in severity every year,” said Paul Handerhan, president of the Federal Association […]
Posted in Environment, Global Warming, Government, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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Frequency of Flash Floods
As the climate warms, the air holds more moisture. Theoretically, there is a 7% increase in atmospheric water holding capacity per degree Celsius warming. A recent study published in Nature The conterminous United States are projected to become more prone to flash floods in a high-end emissions scenario suggests extreme precipitation might be increasing even […]
Posted in Environment, Global Warming, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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26% Increase in US Flood Risk by 2050 Due to Climate Change
A study published in the Journal Nature, Inequitable patterns of US flood risk in the Anthropocene, models a 26.4% (24.1–29.1%) increase in US flood risk by 2050 due to climate change. “Our national depiction of comprehensive and high-resolution flood risk estimates in the United States indicates current average annual losses of US$32.1 billion (US$30.5–33.8 billion) […]
Posted in Global Warming, Science
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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25% of Critical Infrastructure at Risk of Flooding
The First Street Foundation, a nonprofit research and technology group that assesses the threat posed by flooding across the country, released a report that found one-forth of critical infrastructure in the USA is at risk of flooding including: police and fire stations, hospitals, airports and wastewater treatment facilities. “With an increasing number of flooding 1events […]
Posted in Global Warming, Science, weather
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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The Cost of Flood Insurance
An article in the New York Times entitled The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket states, “Federal officials say the goal is fairness — and also getting homeowners to understand the extent of the risk they face, and perhaps move to safer ground, reducing the human and financial toll of disasters.” […]
Posted in Global Warming, Government, Science, weather
Also tagged climate change, extreme weather events, flood insurance, flooding, real estate
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Rising Sea Level Turning New Jersey Cedars into Ghost Forests
The New Jersey Department of Environmental Protection released the “New Jersey’s Coastal Community Vulnerability Assessment” ccvamp-final The sea level is rising faster than forecast. Saltwater intrusion is a current and severe problem. The United States Geological Survey reports, “Saltwater intrusion has occurred to some degree in many of the coastal aquifers of the United States. […]
Posted in Environment, Global Warming, Science
Also tagged climate change, real estate, saltwater intrusion
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National Flood Insurance Program Increasing Rates
FEMA is updating the National Flood Insurance Program’s (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily sound, equitable, easier to understand and better reflect a property’s flood risk. The […]
Posted in Global Warming, Government, Science, weather
Also tagged climate change, flood insurance, flooding, real estate
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Increasing Cost and Risk of Flood Insurance
The cost of flood damage to homes nationwide will increase by more than 50% in the next 30 years, the First Street Foundation estimates. Flood Insurance Forecast A report by NPR radio, A Looming Disaster: New Data Reveal Where Flood Damage Is An Existential Threat, found: The federal government provides the vast majority of residential […]
Posted in Environment, Global Warming, Science
Also tagged climate change, flood insurance, flooding, real estate
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Increasing Cost of Flood Insurance
“Increased awareness of flood risk and rising future insurance costs impact perceptions of value, which will impact real estate markets,” said Matthew Eby, founder and executive director of First Street Foundation. First Street Foundation published a report that concludes: “Rising sea levels and extreme weather could cause $20 billion of flood damage to at-risk U.S. […]
Posted in Environment, Global Warming, Science
Also tagged climate change, flood insurance, flooding, real estate
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