flood risk News

U.S. Rolls Out First Update to Flood Insurance Pricing in 50 Years

NEW YORK — Hundreds of thousands of Americans will pay significantly more to insure their homes in coastal areas and flood zones under new rules released on Thursday by the Federal Emergency Management Agency (FEMA), the first major update to …

From New York to Houston, Flood Risk For Real Estate Hubs Ramps Up

The number of properties in the United States in danger of flooding this year is 70% higher than government data estimates, research released on Monday shows, with at-risk hot spots in Houston, New York, Los Angeles and Chicago. The higher …

South Carolina Conservation Groups Warn Charleston Development Will Worsen Flooding

Conservation groups in South Carolina are challenging a 3,000-acre (12,100-hectare) development project in Charleston over concerns that a loss of wetlands could worsen flooding in an already flood-prone area. The Sierra Club and the South Carolina Wildlife Federation argue that …

Mild Winter Reduces Springtime Flood Risk in New England

A mild winter is giving emergency management officials one less thing to worry about: The spring flooding risk is reduced in New England. There’s a lower-than-average risk of ice jams causing river backups and flooding in most of Maine, New …

Insurers Warn Government Canada’s Flood Mapping Must Not Take a Decade

OTTAWA — Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood risks. …

U.S. Flood Risk Model to be Publicly Available in Boon for Homebuyers

NEW YORK, Jan 14 — A climate research organization will offer access to a risk model that predicts the probability of flooding for homes across the United States, giving the public a look at the data institutional investors use to …

Growing Private Flood Market Will Test Claim Professionals

A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An executive for Munich …

FEMA Bought 44,000 Flood-Prone Homes and May Have to Buy Millions More

As the climate crisis worsens, more Americans will be forced from their homes. Many won’t be able to afford it, and the U.S. isn’t prepared for a massive, government-subsidized migration away from flood-prone areas, according to the first comprehensive analysis …

When Climate Change Leads to Mortgage Defaults: Viewpoint

Climate change poses risks to real estate that homebuyers may not be able to predict. As sea level rises, coastal properties, for example, may be subject to increased flooding and intensifying storm surges. First-time homebuyers often lack the expertise to …

Fire and Hail Push Insurers to Rethink Climate Change Risks

LONDON — By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is …