Page 27 - பல்கலைக்கழகம் ஆஃப் மேரிலாந்து மையம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Currently, there are nearly 4.3 million residential properties around the country with a substantial risk of financial loss due to flooding. The report defines “substantial risk” as carrying a 1% chance of flooding in any year. But the report finds that those homes face losses each year which dwarf the costs of their NFIP premiums. The average NFIP premium cost today for those properties is around $981, but their expected annual loses are $4,694 per property. If all of those property owners were to purchase flood insurance to protect against potential damage, premiums would need to increase by 4.5 times to cover the risk. The analysis was conducted by the First Street Foundation, a non-profit research and technology group that aims to shed light on the growing risk of flooding around the country due to climate change.

United statesCarolyn kouskyDavid maurstadSandra knightMichael grimmUniversity of maryland centerWharton risk centerEmergency management agencyCongressional review serviceNational flood insurance programUniversity of pennsylvaniaFederal emergency management agencyFirst street foundationSpecial flood hazard areaMatthew ebyFirst street