Interview of the Week: Dr. Carolyn Kousky

We recently wrote that the Federal Emergency Management Agency (FEMA) announced a new pricing structure for its federal flood insurance program in an effort to improve the equitability of flood insurance. Disaster insurance and preparedness is a topic that is becoming an all too familiar topic as extreme weather events cause billions of dollars in damage each year.

This is why we were thrilled to have the chance to speak with Dr. Carolyn Kousky who is the Executive Director at the Wharton Risk Management Center at the University of Pennsylvania. We asked Dr. Kousky about FEMA’s plans to modernize the way it sets rates, the ways in which we can rethink disaster coverage so that it protects more people, and the overall lack of information available to homeowners living in high-risk areas. If you’re a homeowner or looking to purchase a home, this interview is a must-watch! An FYI from Dr. Kousky:

“Federal government aid, unfortunately, is really limited. So there are localized disaster events that don’t get any federal assistance. And even our big events that do get federal dollars, it takes so long and [the payouts] are much more limited than people think. The average FEMA grant is a couple of thousand dollars which doesn’t come close to [helping people rebuild].”

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