From Orlando Sentinel
“Rising seas haven’t flooded us out yet, but they’re already wreaking havoc in a batch of ways — on flood insurance, property insurance, mortgages, property values, beach health and more... For years, flood insurance from FEMA’s National Flood Insurance Program has been priced artificially low and heavily subsidized by the Treasury Department. Now, after innumerable worsening flood disasters, FEMA is instituting “Risk Rating 2.0,” which for the first time looks at individual properties’ flood risks and prices policies accordingly.” |
