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Sat, 2013-08-03 23:02 — Albert Gomez
This working group is to discuss the topic of Insurance and its impact to local residents of the South Florida Metroplex community.

This working group has been created to discuss the topic of Insurance and its impact to local residents of the South Florida Metroplex community.  As the frequency and severity of Hurricane events increases, the threat of a catastrophic storm event similar to Hurricane Sandy hitting South Florida is great.  South Florida is no stranger to severe Hurricanes, such as Hurricane Andrew in 1992.  Miami's growth and its population density increase since 1992 increases the risk of a severe event scenario, if Miami was to sustain a direct hit from a catastrophic storm.  Today flood zones throughout the Northeast of the United States are being rezoned because of Hurricane Sandy and the threat these more intense storms poses on coastal communities.  This working group hopes to address all relevant subjects related to the Insurance industry, its South Florida customers and the regulations that govern its practice.

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insurance-sfl@m.resiliencesystem.org

FEMA Flood Maps Ignore Climate Change, and Homeowners Are Paying the Price

Sun, 2018-11-04 18:48 — Kathy Gilbeaux

           

The flood maps don’t factor in sea level rise or changes in extreme weather, and many are years out of date. In Mexico Beach, 'minimal-risk' homes were swept away.

insideclimatenews.org - by James Bruggers - November 1, 2018

The official map laid it out for more than 200 homes within the community of Mexico Beach, Florida: the federal government had characterized their flooding risks as minimal, despite their near-beachfront locations.

That meant for them there were no requirements to buy flood insurance, and local residents say many did not.

When Hurricane Michael and its 155-mile-per-hour winds slammed into the town on Oct. 10, with a storm surge of perhaps 19 feet, the result was devastation. An analysis by coastal geologists from Western Carolina University has found that 70 percent of the homes were demolished. Another 10 percent were severely damaged.

Country / Region Tags: 
US - SouthEast
General Topic Tags: 
Climate
Economics
Flood
Map
Sea Level
Visualization
Vulnerability
Problem, Solution, SitRep, or ?: 
Problem
Situation Report

Your Flood Insurance Premium is Going Up Again, and That’s Only the Beginning

Wed, 2018-08-08 01:21 — Kathy Gilbeaux

           

miamiherald.com - by Alex Harris - July 24, 2018

The letter might have already come in the mail. “Your building is at high risk for flooding,” it declares in bold. There are ominous charts warning that if you don’t take action, your flood insurance premium could rise up to 18 percent each year.

The bottom line: your flood insurance premium is going up again — and under a policy change the Federal Emergency Management Agency is considering, it could skyrocket even more in coming years.

(CLICK HERE - READ COMPLETE ARTICLE)

ALSO SEE RELATED ARTICLES WITHIN THE LINKS BELOW . . .

CLICK HERE - Risk Rating and Policy Forms Redesign (15 page .PDF document)

CLICK HERE - Federal Flood Insurance Average Premium to Rise 8%

CLICK HERE - FEMA - Flood Insurance Reform - Rates and Refunds

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Problem, Solution, SitRep, or ?: 
Situation Report

Credit Rating Firm Warns New Orleans, Coastal Cities to Prepare for Climate Change

Tue, 2017-12-12 22:38 — Kathy Gilbeaux

           

An aerial view of the Industrial Canal after its levee failed during Hurricane Katrina. (NOLA.com | The Times-Picayune file photo)

nola.com - by Tristan Baurick - December 11, 2017

One of the country's largest credit rating agencies has put New Orleans and other coastal cities on notice: prepare for the effects of climate change or risk a hit on your credit score.

In a new report, Moody's Investors Service warned that it will evaluate efforts to adapt to sea level rise, flooding, severe storms and other impacts from rising global temperatures when setting its ratings for loans and bonds. The report mentions New Orleans and Louisiana several times as high risk areas.

(READ COMPLETE ARTICLE)

 

Country / Region Tags: 
United States
General Topic Tags: 
Climate
Economics
Problem, Solution, SitRep, or ?: 
Situation Report

Why we should care about the United Nations’ COP21

Tue, 2015-12-01 12:53 — Albert Gomez
Posted by × 11/30/2015 at 4:10 pm

From Nov. 30 — Dec. 11, delegates from 194 countries throughout the world will convene in France for the 21st Conference of the Parties (COP21) to the United Nations Framework Convention on Climate Change. This conference on climate change is expected to culminate with a new international agreement to mitigate climate change. FIU Law Senior Scholar Ryan Stoa and Journalism and Broadcasting Professor Juliet Pinto will be in attendance at the conference. In this op-ed, Tiffany Troxler, director of the FIU Sea Level Solutions Center, explains the importance of the international gathering.

Tiffany Troxler, director of the FIU Sea Level Solutions Center

Tiffany Troxler, director of the FIU Sea Level Solutions Center

Country / Region Tags: 
Global
Oceans
United States
US - SouthEast
General Topic Tags: 
Adaptation
Capacity
Cities
Citizens
Climate
Conservation
Disaster Response
Disaster Risk Reduction
Ecosystems
Energy
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Flood
Government
Oceans
Policy
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Solar
Sustainable Development
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Problem, Solution, SitRep, or ?: 
Situation Report

President Obama Signs Flood Insurance Bill Into Law

Sun, 2014-03-23 23:28 — Kathy Gilbeaux

President Barack Obama signs flood insurance bill into law.
(AP Photo/Charles Dharapak)

nola.com - by Bruce Alpert - March 21, 2014

WASHINGTON -- President Barack Obama Friday signed into law hard-fought legislation that will limit flood insurance premium increases to no more than 18 percent a year.

White House officials called Sen. Mary Landrieu, D-La., shortly after 1 p.m. CT to say the bill is now law.

(READ COMPLETE ARTICLE)

(CLICK HERE - H.R. 3370)

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Problem, Solution, SitRep, or ?: 
Situation Report

Key Senate Vote on Flood Insurance Rate Delay Pushed to Next Week

Thu, 2014-01-09 18:00 — Kathy Gilbeaux

insurancejournal.com - by Andrew G. Simpson - January 7, 2014

The U.S. Senate is expected to take a key vote soon on a bill that would delay some of the flood insurance rate hikes triggered by the Biggert-Waters Flood Insurance Reform Act of 2012. . .

. . . The procedural vote on S.1846 was originally planned for Wednesday, but the Senate is still dealing with an extension of federal unemployment benefits, delaying consideration of the flood bill. U.S. Sen. Mary Landrieu (D-La.), a major advocate for the bill, told USA Today that  “next week is more realistic” for any vote on the flood bill.

(READ COMPLETE ARTICLE)

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Problem, Solution, SitRep, or ?: 
Situation Report

The Hard Math of Flood Insurance in a Warming World

Sat, 2013-10-26 23:14 — Kathy Gilbeaux

      

A man walks through flooded streets in Hoboken, New Jersey, after Superstorm Sandy | Emile Wamsteker/Bloomberg via Getty Images

As subsidized rates of federal flood insurance rise, property owners along the coasts get angry. But we need insurance that reflects the risks of a changing planet

time.com - by Bryan Walsh - October 1, 2013

Thousands of homeowners in flood-prone parts of the country are going to be in for a rude awakening.  On Oct. 1, new changes to the National Flood Insurance Program (NFIP), which offers government-subsidized policies for households and businesses threatened by floods, mean that businesses in flood zones and homes that have been severely or repeatedly flooded will start going up 25% a year until rates reach levels that would reflect the actual risk from flooding. (Higher rates for second or vacation homes went into effect at the start of 2013.) That means that property owners in flood-prone areas who might have once been paying around $500 a year—rates that were well below what the market would charge, given the threat from flooding—will go up by thousands of dollars over the next decade.

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Sea Level
Vulnerability
Problem, Solution, SitRep, or ?: 
Problem
Situation Report

Reinsurance Association of America's Senate Testimony on Climate Change

Sat, 2013-10-05 17:08 — admin

On July 18, 2013, Frank Nutter, President of the Reinsurance Association of America, testified before the Senate Committee on Environment Protection and Public Works as to the RAAs perspective on weather and climate-related impacts in the United States.

 

Following are excerpts from his report:

"In the 1980’s, the average number of natural catastrophes globally was 400 events per year. In recent years, the average is 1000. Munich Re’s analysis suggests the increase is driven almost entirely by weather-related events. North America has seen a fivefold increase in the number of such events since 1980. In comparison, Europe has seen a twofold increase.

Country / Region Tags: 
United States
US - East
US - South
General Topic Tags: 
Climate
Economics
Problem, Solution, SitRep, or ?: 
Situation Report

Flood insurance rates set to skyrocket because of new federal law

Tue, 2013-10-01 09:57 — Albert Gomez

 

SKYROCKETING FLOOD INSURANCE RATES

US - South
Flood
Situation Report
Flood

Coastal, Riverbank Homeowners Brace for U.S. Flood Insurance Hike

Mon, 2013-09-30 20:00 — Kathy Gilbeaux

      

A home destroyed during the landfall of Superstorm Sandy is pictured in Mantoloking, New Jersey March 22, 2013.  Credit: REUTERS/Lucas Jackson

reuters.com - by Barbara Liston - September 24, 2013

(Reuters) - More than a million homeowners living in older houses along the coastlines and riverbanks of the United States are being jolted by federal flood insurance rate hikes under a law passed in the wake of devastating storms.

Carol Giovannoni, 51, of St. Pete Beach, a barrier island community off Florida's west coast, is one of the people dreading October 1, when the law takes effect. Giovannoni said the annual flood insurance premium on her standard 1950s concrete-block, ranch-style home on the waterfront will jump from $1,700 to $15,000 over the next few years.

(READ COMPLETE ARTICLE)

CLICK HERE - Flood Insurance Reform Act of 2012

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Policy
Problem, Solution, SitRep, or ?: 
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