Different Perspectives on Flood Insurance Reform

Different Perspectives on Flood Insurance Reform PDF Author: Mason Connah
Publisher:
ISBN: 9781536169652
Category :
Languages : en
Pages :

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Book Description
This book is a compilation of three different meetings of the Subcommittee on Housing and Insurance. The meetings were held to discuss Flood Insurance Reform and the timely reauthorization of the National Flood Insurance Program (NFIP) and its key authorities. At each of the meetings a different perspective was discussed.

Different Perspectives on Flood Insurance Reform

Different Perspectives on Flood Insurance Reform PDF Author: Mason Connah
Publisher:
ISBN: 9781536169652
Category :
Languages : en
Pages :

Get Book Here

Book Description
This book is a compilation of three different meetings of the Subcommittee on Housing and Insurance. The meetings were held to discuss Flood Insurance Reform and the timely reauthorization of the National Flood Insurance Program (NFIP) and its key authorities. At each of the meetings a different perspective was discussed.

Underwater

Underwater PDF Author: Rebecca Elliott
Publisher: Columbia University Press
ISBN: 0231548818
Category : Social Science
Languages : en
Pages : 192

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Book Description
Communities around the United States face the threat of being underwater. This is not only a matter of rising waters reaching the doorstep. It is also the threat of being financially underwater, owning assets worth less than the money borrowed to obtain them. Many areas around the country may become economically uninhabitable before they become physically unlivable. In Underwater, Rebecca Elliott explores how families, communities, and governments confront problems of loss as the climate changes. She offers the first in-depth account of the politics and social effects of the U.S. National Flood Insurance Program (NFIP), which provides flood insurance protection for virtually all homes and small businesses that require it. In doing so, the NFIP turns the risk of flooding into an immediate economic reality, shaping who lives on the waterfront, on what terms, and at what cost. Drawing on archival, interview, ethnographic, and other documentary data, Elliott follows controversies over the NFIP from its establishment in the 1960s to the present, from local backlash over flood maps to Congressional debates over insurance reform. Though flood insurance is often portrayed as a rational solution for managing risk, it has ignited recurring fights over what is fair and valuable, what needs protecting and what should be let go, who deserves assistance and on what terms, and whose expectations of future losses are used to govern the present. An incisive and comprehensive consideration of the fundamental dilemmas of moral economy underlying insurance, Underwater sheds new light on how Americans cope with loss as the water rises.

Affordability of National Flood Insurance Program Premiums

Affordability of National Flood Insurance Program Premiums PDF Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309380774
Category : Science
Languages : en
Pages : 151

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Book Description
When Congress authorized the National Flood Insurance Program (NFIP) in 1968, it intended for the program to encourage community initiatives in flood risk management, charge insurance premiums consistent with actuarial pricing principles, and encourage the purchase of flood insurance by owners of flood prone properties, in part, by offering affordable premiums. The NFIP has been reauthorized many times since 1968, most recently with the Biggert-Waters Flood Insurance Reform Act of 2012 (BW 2012). In this most recent reauthorization, Congress placed a particular emphasis on setting flood insurance premiums following actuarial pricing principles, which was motivated by a desire to ensure future revenues were adequate to pay claims and administrative expenses. BW 2012 was designed to move the NFIP towards risk-based premiums for all flood insurance policies. The result was to be increased premiums for some policyholders that had been paying less than NFIP risk-based premiums and to possibly increase premiums for all policyholders. Recognition of this possibility and concern for the affordability of flood insurance is reflected in sections of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 2014). These sections called on FEMA to propose a draft affordability framework for the NFIP after completing an analysis of the efforts of possible programs for offering "means-tested assistance" to policyholders for whom higher rates may not be affordable. BW 2012 and HFIAA 2014 mandated that FEMA conduct a study, in cooperation with the National Academies of Sciences, Engineering, and Medicine, which would compare the costs of a program of risk-based rates and means-tested assistance to the current system of subsidized flood insurance rates and federally funded disaster relief for people without coverage. Production of two reports was agreed upon to fulfill this mandate. This second report proposes alternative approaches for a national evaluation of affordability program policy options and includes lessons for the design of a national study from a proof-of-concept pilot study.

The National Flood Insurance Program

The National Flood Insurance Program PDF Author: Illinois. Governor's Task Force on Flood Control
Publisher:
ISBN:
Category : Flood control
Languages : en
Pages : 80

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Book Description


Riegle Community Development and Regulatory Improvement Act of 1994

Riegle Community Development and Regulatory Improvement Act of 1994 PDF Author: United States
Publisher:
ISBN:
Category : Community development
Languages : en
Pages : 136

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Book Description


At War with the Weather

At War with the Weather PDF Author: Howard C. Kunreuther
Publisher: MIT Press
ISBN: 0262291525
Category : Business & Economics
Languages : en
Pages : 439

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Book Description
Innovative, long-term strategies for reducing vulnerability to large-scale natural disasters and for providing financial support for disaster victims. The United States and other nations are facing large-scale risks at an accelerating rhythm. In 2005, three major hurricanes—Katrina, Rita, and Wilma—made landfall along the U.S. Gulf Coast within a six-week period. The damage caused by these storms led to insurance reimbursements and federal disaster relief of more than $180 billion—a record sum. Today we are more vulnerable to catastrophic losses because of the increasing concentration of population and activities in high-risk coastal regions of the country. The question is not whether but when, and how frequently, future catastrophes will strike and the extent of damages they will cause. Who should pay the costs associated with catastrophic losses suffered by homeowners in hazard-prone areas? In At War with the Weather, Howard Kunreuther and Erwann Michel-Kerjan with their colleagues deliver a groundbreaking analysis of how we currently mitigate, insure against, and finance recovery from natural disasters in the United States. They offer innovative, long-term solutions for reducing losses and providing financial support for disaster victims that define a coherent strategy to assure sustainable recovery from future large-scale disasters. The amount of data collected and analyzed and innovations proposed make this the most comprehensive book written on these critical issues in the past thirty years.

Insurance and Behavioral Economics

Insurance and Behavioral Economics PDF Author: Howard C. Kunreuther
Publisher: Cambridge University Press
ISBN: 0521845726
Category : Business & Economics
Languages : en
Pages : 343

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Book Description
This book examines the behavior of individuals at risk and insurance industry policy makers involved in selling, buying and regulation.

The Ocean and Cryosphere in a Changing Climate

The Ocean and Cryosphere in a Changing Climate PDF Author: Intergovernmental Panel on Climate Change (IPCC)
Publisher: Cambridge University Press
ISBN: 1009178466
Category : Science
Languages : en
Pages : 1807

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Book Description
The Intergovernmental Panel on Climate Change (IPCC) is the leading international body for assessing the science related to climate change. It provides policymakers with regular assessments of the scientific basis of human-induced climate change, its impacts and future risks, and options for adaptation and mitigation. This IPCC Special Report on the Ocean and Cryosphere in a Changing Climate is the most comprehensive and up-to-date assessment of the observed and projected changes to the ocean and cryosphere and their associated impacts and risks, with a focus on resilience, risk management response options, and adaptation measures, considering both their potential and limitations. It brings together knowledge on physical and biogeochemical changes, the interplay with ecosystem changes, and the implications for human communities. It serves policymakers, decision makers, stakeholders, and all interested parties with unbiased, up-to-date, policy-relevant information. This title is also available as Open Access on Cambridge Core.

Climate Adaptation and Resilience Across Scales

Climate Adaptation and Resilience Across Scales PDF Author: Nicholas B. Rajkovich
Publisher: Routledge
ISBN: 1000470997
Category : Architecture
Languages : en
Pages : 277

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Book Description
Climate Adaptation and Resilience Across Scales provides professionals with guidance on adapting the built environment to a changing climate. This edited volume brings together practitioners and researchers to discuss climate-related resilience from the building to the city scale. This book highlights North American cases that deal with issues such as climate projections, public health, adaptive capacity of vulnerable populations, and design interventions for floodplains, making the content applicable to many locations around the world. The contributors in this book discuss topics ranging from how built environment professionals respond to a changing climate, to how the building stock may need to adapt to climate change, to how resilience is currently being addressed in the design, construction, and operations communities. The purpose of this book is to provide a better understanding of climate change impacts, vulnerability, and resilience across scales of the built environment. Architects, urban designers, planners, landscape architects, and engineers will find this a useful resource for adapting buildings and cities to a changing climate.

The Geography of Risk

The Geography of Risk PDF Author: Gilbert M. Gaul
Publisher: Sarah Crichton Books
ISBN: 0374718520
Category : Political Science
Languages : en
Pages : 265

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Book Description
This century has seen the costliest hurricanes in U.S. history—but who bears the brunt of these monster storms? Consider this: Five of the most expensive hurricanes in history have made landfall since 2005: Katrina ($160 billion), Ike ($40 billion), Sandy ($72 billion), Harvey ($125 billion), and Maria ($90 billion). With more property than ever in harm’s way, and the planet and oceans warming dangerously, it won’t be long before we see a $250 billion hurricane. Why? Because Americans have built $3 trillion worth of property in some of the riskiest places on earth: barrier islands and coastal floodplains. And they have been encouraged to do so by what Gilbert M. Gaul reveals in The Geography of Risk to be a confounding array of federal subsidies, tax breaks, low-interest loans, grants, and government flood insurance that shift the risk of life at the beach from private investors to public taxpayers, radically distorting common notions of risk. These federal incentives, Gaul argues, have resulted in one of the worst planning failures in American history, and the costs to taxpayers are reaching unsustainable levels. We have become responsible for a shocking array of coastal amenities: new roads, bridges, buildings, streetlights, tennis courts, marinas, gazebos, and even spoiled food after hurricanes. The Geography of Risk will forever change the way you think about the coasts, from the clash between economic interests and nature, to the heated politics of regulators and developers.