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The commercial real estate industry faces an intensifying threat from flooding, which will likely create billions of dollars in increasing costs, research says.
Rising climate-change-related flood risks are creating growing losses for both firms and the communities that depend on them
The commercial real estate industry faces an intensifying threat from flooding, which will likely create billions of dollars in increasing costs, research says.
While residential flooding threats are well studied, the risks that climate change poses to commercial buildings are less familiar to the public.
The program — Risk Rating 2.0 — will mean higher prices for about three-quarters of the 4.9 million federal flood insurance policies and decreases for the rest.