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Federal Flood Insurance Premiums Far From Keeping Up With Expected Losses

February 22, 2021


If the nearly 4.3 million residential homes (1-4 units) across the country with substantial flood risk were to be insured through the National Flood Insurance Program (NFIP), the NFIP rates would need to increase 4.5 times to cover the risk today.

New research, The Cost of Climate, from First Street Foundation, a nonprofit research and technology group working on flood risk, quantifies the financial impacts of flood risk carried by American homeowners, and how those impacts are growing as flood risks worsen due to a rapidly changing climate.

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