Source: NPR - Link
The new data show that flood insurance rates would need to more than quadruple to keep up with the costs of climate-driven flooding. The Federal Emergency Management Agency is already preparing to raise insurance premiums in many places later this year in an effort to save the National Flood Insurance Program, which has accrued more than $36 billion in debt.
People are going to need to migrate out of flood-prone areas. It’s going to cost hundreds of billions in property losses. But, knowing humans, they won’t move until they lose everything. Knowing politicians, there won’t be a program to assist in moving.