FEMA Announces Flood Insurance Rate Changes to Improve Equitability

FEMA Announces Flood Insurance Rate Changes to Improve Equitability

The Federal Emergency Management Agency announced late last week a new pricing structure for its federal flood insurance program.  The federal government has been subsidizing flood insurance for people in areas defined by the government as flood-prone — the new pricing takes into account the actual risk to people’s homes.

Why This Matters:  The prior system was inequitable and FEMA says its new system will mean that low-income people with less valuable homes will pay only their fair share.

Continue Reading 491 words

Want the planet in your inbox?

Subscribe to the email that top lawmakers, renowned scientists, and thousands of concerned citizens turn to each morning for the latest environmental news and analysis.