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Biden Budget Includes Plan to Help Poor Buy Flood Insurance

Pressure Builds on Congress to Help People Afford Pricey Flood Insurance

Scientific American Premiums will rise in October, but 51 percent of homeowners in high risk areas are low income Print People stand outside a house surrounded by flood water in the aftermath of Hurricane Irma in Callahan, Fla. in September 2017. Credit: Jabin Botsford Advertisement Congress is under pressure to subsidize flood insurance costs for low-income households after the federal government announced last week that it would increase flood insurance premiums for millions of homeowners. Of the 5 million properties insured by the National Flood Insurance Program, about 3.9 million soon will see a hike in premiums and 200,000 substantially so. The new rates will go into effect in October for new policyholders and April 2022 for homeowners renewing policies (

Society for Risk Analysis: How Could Rising Sea Level Impact the National Flood Insurance Program?

Society for Risk Analysis: How Could Rising Sea Level Impact the National Flood Insurance Program? Targeted News Service (Press Releases) HERNDON, Virginia, The Society for Risk Analysis issued the following news release: Insurance policy premiums from the National Flood Insurance Program (NFIP) allow policyholders to maintain a lower, grandfathered rate even when the risk escalates. But as coastal flooding increases due to rising sea level and more intense storms, new research published in the journal Risk Analysis suggests this grandfathered policy could lead to big losses for the NFIP. A team of experts led by Carolyn Kousky, executive director of the

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