For decades, taxpayers have been subsidizing flood insurance rates, but new premium calculations by FEMA will adjust rates to better reflect the true risk of flood-prone homes.
That flood insurance coverage was also probably pretty affordable - figuratively speaking. It only stands to reason that an insurance company wouldn't charge a higher premium for something with such a low risk factor. Like it or not, insurance rates are established off of a combination...
Westport residents are fortunate to live in a community that participates in the CRS program, thus enabling them to receive flood insurance from FEMA and reductions in their flood insurance rates. Many communities prone to flooding do not have the resources to participate in CRS. ...
In this chapter, we conduct a knowledge system analysis of FEMA's Flood Insurance Rate Maps in New York City. In 2012, Superstorm Sandy exposed in the national spotlight the shortcomings of how we calculate, map, and use knowledge about flood risk. Through this case study, we hope to ...
flood-hazard-areas zone. The small creek running past Beinin’s home wasn’t shown as flood-prone on the federal map, but First Street’s model included it and rated the property an “extreme flood risk.” Had she known that, she said, “I either would have gotten flood insurance or ...