Community-level Flood Mitigation Effects on Household-level Flood Insurance and Damage Claims PDF Download
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Author: Eugene Frimpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 135
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Book Description
The Community Rating System (CRS) was introduced to encourage flood mitigation and increase National Flood Insurance Program (NFIP) participation via premium discounts. It is not clear, however, how additional mitigation and premium discounts affect NFIP participation and damage claims payments. We employ matching methods and log-linear regression framework to estimate the impact of CRS participation (versus non-participation) on outcomes. We also analyze the effect of individual CRS mitigation activities on outcomes. We do so while controlling for key geospatial, socioeconomic, and time effects. Results show a positive and significant effect of CRS participation on NFIP participation, but no significant effect on damage claims payments. Outreach and flood data maintenance activities have positive effect on NFIP participation while floodplain mapping and flood protection have negative effect. Flood protection information and storm water management have negative effect on damage claims payments while floodplain management planning and acquisition and relocation have positive effect.
Author: Eugene Frimpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 135
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Book Description
The Community Rating System (CRS) was introduced to encourage flood mitigation and increase National Flood Insurance Program (NFIP) participation via premium discounts. It is not clear, however, how additional mitigation and premium discounts affect NFIP participation and damage claims payments. We employ matching methods and log-linear regression framework to estimate the impact of CRS participation (versus non-participation) on outcomes. We also analyze the effect of individual CRS mitigation activities on outcomes. We do so while controlling for key geospatial, socioeconomic, and time effects. Results show a positive and significant effect of CRS participation on NFIP participation, but no significant effect on damage claims payments. Outreach and flood data maintenance activities have positive effect on NFIP participation while floodplain mapping and flood protection have negative effect. Flood protection information and storm water management have negative effect on damage claims payments while floodplain management planning and acquisition and relocation have positive effect.
Author: Eugene Frimpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
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Book Description
The Community Rating System (CRS) was introduced to encourage community-level flood mitigation and increase household-level National Flood Insurance Program (NFIP) participation. It is not clear, however, if and to what extent community participation in the CRS increases household participation in the NFIP and decreases damage claims payments. We employ genetic matching methods and estimate fixed-effects and Mundlak-style panel regression models that control for key geospatial, socioeconomic, and time effects to isolate the CRS treatment effect on these outcomes. Results show a positive and significant effect of CRS participation on NFIP participation, whereas significant effects on damage claims payments are limited.
Author: Eugene Frimpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
The Community Rating System (CRS) was introduced to encourage community-level flood mitigation and increase household-level National Flood Insurance Program (NFIP) participation. It is not clear, however, if and to what extent community participation in the CRS increases household participation in the NFIP and decreases damage claims payments. We employ genetic matching methods and estimate Mundlak-style panel regression models that control for key geospatial, socioeconomic, and time effects to isolate the CRS treatment effect on these outcomes. Results show a positive and significant effect of CRS participation on NFIP participation. CRS effect on damage claims payments is negative but not significant.
Author: Jingyuan Li
Publisher:
ISBN:
Category : Environmental economics
Languages : en
Pages : 146
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Book Description
Flooding events, including coastal, estuarine, and riverine floods, cause considerable losses to individuals and businesses in the United States. In recent decades, over 80 percent of disaster losses nationwide have been attributed to flooding. Many flood hazard mitigation measures, including programs designed to inform people about potential hazards, plans that promote disaster preparedness, and regulations designed to limit vulnerability though building standards, have elements of local public goods in that they provide benefits for an entire community and agents in the community are not excluded once the goods have been made available. As such, local governments play a critical role in flood hazard mitigation. Policy makers need information to allow them to better understand community hazard mitigation behavior and evaluate the effectiveness of local flood mitigation projects so they can develop impactful management strategies. The analyses in this dissertation provide such information. This dissertation focuses on the Community Rating System (CRS) of the National Flood Insurance Program (NFIP), which credits local floodplain management activities and provides flood insurance premium discounts for households and businesses in a community. In order to motivate flood insurance purchase and promote increased flood hazard mitigation, the CRS credits 18 community floodplain management activities in four broad categories: (1) public information; (2) flood mapping and regulation; (3) flood damage reduction; and (4) flood preparedness. FEMA classifies the portfolio of community flood management practices on a ten point scale, reflecting the overall level of mitigation. The CRS classification determines premium discounts for insurance purchases under the NFIP. Discounts range from five to 45 percent. Programs like CRS seek to incent cooperation amongst federal, state, and local governments rather than impose top-down mandates that require particular mitigation approaches. By offering individual financial inducements for community-level flood hazard mitigation, CRS is an incentive-based, bottom-up cooperative approach to risk management that could address some of the shortcomings of other cooperative approaches to environmental management. Through an improved understanding of CRS, state governments and FEMA can better encourage participation in the CRS and similar programs in order to provide for better protection from natural hazards. It also allows for a better targeting of resources to improve hazard vulnerability. This dissertation has three major chapters. Chapter 3, which is entitled "Participation in the Community Rating System of NFIP: An Empirical Analysis of North Carolina Counties", tests a number of hypotheses offered by previous researchers regarding factors that motivate local hazard management initiatives through an examination of patterns in CRS participation across all 100 North Carolina counties from 1991 to 2002. Specifically, we examine the influence of flood experience, hydrological risk, local capacity, and socioeconomic factors on county hazard mitigation decisions. Results indicate that flood history and physical risk factors increase likelihood of local hazard mitigation adoption. We find evidence that the probability of CRS participation is lower in counties with a greater proportion of senior citizens and greater level of education, and that flood hazard mitigation activities at the county level are more likely when a greater number of nested of municipalities participate in CRS. Chapter 4, which is entitled "Evaluation of the Community Rating System of National Flood Insurance Program - An Application of Propensity Score Matching", develops innovative ways to assess the performance of the CRS. The true performance of CRS can be determined if one compares a meaningful outcome - like the average property damage during flooding events - for each CRS participant with their untreated selves during the same event. However, it is impossible to observe what would have happened to CRS participants in absence of their participating in the CRS (lack of counterfactual). The primary objective of chapter 4 is to use propensity score matching (PSM) methods to correct sample selection bias due to observable differences between the CRS participants and comparison groups. Although there is substantial variation in the results, the findings show that all of the effects are in the same direction, indicating CRS effectively reduces the average property damage due to flood hazard. Chapter 5, which is entitled "Estimation of a Dynamic Model: Policy Learning in Hazard Mitigation", addresses the dynamic nature in flood hazard mitigation policy learning by examining the patterns in Community Rating System (CRS) scores across all 100 counties in North Carolina from 1995 to 2010, with controls of flood experience, hydrological risk factors, local capacity, and socioeconomic factors. It is important for local governments to maintain stability and transparency in planning and policy-making processes, so that agents and institutions can form reasonable expectations upon which to make development and investment decisions. As a result, the establishment of a new framework of hazard mitigation presents a considerable challenge, involving a change of momentum which requires commissioner meetings, public hearings, and ordinance revisions, all of which are costly. Therefore, we postulate that hazard mitigation policy evolution in response natural disasters can be described in terms of a dynamic mechanism. The dynamic panel model is characterized by the presence of a lagged dependent variable among the regressors, incorporating both dynamics and individual-specific effects. The result show that once local governments regulate their floodplains in ways that go beyond the minimum required by the NFIP, they tend to improve flood hazard mitigation incrementally despite changes in staff and shifts in local political regimes.
Author: Federal Emergency Management Agency (U S
Publisher: Government Printing Office
ISBN: 9780160933318
Category :
Languages : en
Pages : 212
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Book Description
The Federal Emergency Management Agency (FEMA) has prepared this guide specifically for homeowners who want to know how to help protect their homes from flooding. As a homeowner, you need clear information about the options available to you and straightforward guidance that will help you make decisions. This guide gives you both, in a form designed for readers who have little or no experience with flood protection methods or building construction techniques. This guide includes the updates to the residential flood protection methods and reflected changes made to the National Flood Insurance Program (NFIP). Homeowners and community property managers located in flood zones, lowlands, and lands vulnerable to flooding following heavy rains may be most interested in this guide that offers practical tips and options to protect your residence. Related products: Home Builder's Guide to Coastal Construction is available here: https://bookstore.gpo.gov/products/sku/064-000-00055-1 Divine Providence is available here: https://bookstore.gpo.gov/products/sku/008-022-00364-9 Resources about Floods can be found here: https://bookstore.gpo.gov/catalog/environment-nature/natural-environmental-disasters/floods Water management resources collection is available here: https://bookstore.gpo.gov/catalog/environment-nature/water-management
Author: United States. Federal Emergency Management Agency
Publisher:
ISBN:
Category : Drainage
Languages : en
Pages : 184
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Book Description
Author: James P. Howard, II
Publisher: Springer
ISBN: 3319290630
Category : Political Science
Languages : en
Pages : 134
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Book Description
This Brief presents a benefit-cost analysis of the National Flood Insurance Program (NFIP) as well as an evaluation of its cumulative socioeconomic effects. Created by Congress in 1968, the NFIP provides flood insurance protection to property owners, in return for local government commitment to sound floodplain management. Since 1994, the NFIP has included a Flood Mitigation Assistance (FMA) program to provide local communities with support for flood mitigation. This book offers quantitative evidence of the net social benefit of the NFIP for the years 1996-2010, including an independent assessment of the consumer benefit. Second, it provides distributionally weighted analysis to show the socioeconomic effects of payments and claims. Finally, this Brief includes an analysis of the change in government revenue attributable to the NFIP and FMA programs. The models used in each component of the analysis are usable by others for extending and revising the analysis. Providing a comprehensive analysis of this increasingly important federal policy, this Brief will be of use to students of environmental economics and public policy as well as those interested in risk management in the era of climate change.
Author:
Publisher:
ISBN:
Category : Buildings
Languages : en
Pages : 60
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Book Description
When in doubt, throw it out. Don't risk injury or infection. 2: Ask for help. Many people can do a lot of the cleanup and repairs discussed in this book. But if you have technical questions or do not feel comfortable doing something, get professional help. If there is a federal disaster declaration, a telephone "hotline" will often be publicized to provide information about public, private, and voluntary agency programs to help you recover from the flood. Government disaster programs are there to help you, the taxpayer. You're paying for them; check them out. 3: Floodproof. It is very likely that your home will be flooded again someday. Floodproofing means using materials and practices that will prevent or minimize flood damage in the future. Many floodproofing techniques are inexpensive or can be easily incorporated into your rebuilding program. You can save a lot of money by floodproofing as you repair and rebuild (see Step 8).
Author:
Publisher: FEMA
ISBN:
Category :
Languages : en
Pages : 78
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Book Description
Author: OECD
Publisher: OECD Publishing
ISBN: 9264257683
Category :
Languages : en
Pages : 138
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Book Description
Disasters present a broad range of human, social, financial, economic and environmental impacts, with potentially long-lasting effects. This report applies the lessons from the OECD’s analysis of disaster risk financing practices and its risk guidance to the specific case of floods.
