Thursday, May 6, 2021
Flood violations are often something that can creep up on banks, mainly because banks have a tendency to be lulled to sleep on underlying risks until a triggering event occurs that makes everyone pay attention for example, a change in the flood maps or a change in regulation, such as the recent regulatory changes with respect to private flood insurance. However, flood risk has recently surfaced after hiding beneath the waters for some time: cross-collateral clauses in mortgages and deeds of trust have recently been identified by examiners as causing loans to be underinsured as to flood insurance.
Federal disaster relief funding that prioritizes property value over need exacerbates existing racial inequalities, leaving poor neighborhoods and communities of color more vulnerable to extreme weather events, a Houston area official told lawmakers.
Harris County Commissioner Rodney Ellis said Tuesday that equity principles implemented to guide the countyâs response following Hurricane Harvey in 2017 made it harder to secure federal dollars for the recovery.
âThe poorest neighborhoods in Harris County are the hardest hit during storms, floods and other natural disasters, but they received the least amount of resources to recover, rebuild and build resiliency against the next load,â Ellis told lawmakers. Poor and minority families are more likely to live in neighborhoods vulnerable to climate-related disasters because of redlining, he said.
Maine Voices: ‘Carbon cash-back’ offers families a gift as we strive to reach net zero
The plan would charge companies for every ton of greenhouse gas they emit, sending it back to U.S. households as a monthly check.
By Peter GarrettSpecial to the Press Herald
A solution to the climate crisis that pays families? What a gift that would be!
Even business-friendly organizations have endorsed carbon fee and dividend, realizing that Congress would instead impose sector-specific emissions standards and regulations that would be more expensive for industry, lazyllama/Shutterstock.com
ABOUT THE AUTHOR
Peter Garrett is Maine state coordinator of the Citizens Climate Lobby and a resident of Winslow.
After selecting a quote, users are connected to a live flood expert to purchase their flood policy.
Flood insurance options have been expanding in recent years, with private flood offerings from numerous insurance companies entering the marketplace. My Flood Insurance has partnered with Wright Flood – the largest flood insurer in the nation – to provide all NFIP quotes on the portal, as well as quotes from carriers in its proprietary Wright Residential Private Flood Insurance Program and multiple carriers hosted on The Wright Flood Insurance Marketplace.
Other participating carriers on the My Flood Insurance portal include the recent addition of Neptune Flood as an exclusive carrier for insurance agents. Sterling Surplus and Flood Risk Solutions, Inc. are available to both consumers and agents, and Aon Edge is also featured for consumer quoting only. Collectively, these carriers represent dozens of markets, including AIG, Chubb, Palomar, Swiss Re, Trisura, Voyager, Lloyd s o