Premiums On Flood Prone Premiums To Rise Rapidly

The challenge posed by the increased in the severity and frequency of events is being confronted in many countries. Some new data out of the US creates some very sobering reading. The National Flood Insurance Program, which provides the vast majority of United States flood insurance policies, would have to quadruple premiums on high-risk homes inside floodplains to reflect the risks they already face, according to new modelling by a group of academics and experts that models flood risks. By 2050, increased flooding tied to climate change will require a sevenfold increase. These numbers are scary and probably similar to many countries - I would imagine the sustainability of certain insurance models and covers will be a growing concern!   Read more 

Source: New York Times