coastal flooding

Why we shouldn’t throw out flood insurance reform

It’s not surprising that homeowners in flood-prone areas are asking their representatives in Congress to protect them from higher flood insurance bills.

Here’s the question. Who is going to protect them from higher floods?

Congress in 2012 did the right thing in fixing a broken flood insurance system that has fallen $24 billion in debt, largely because the price of flood insurance hasn’t for many years matched the risk of a flood. Now, both the House and Senate have passed bills that would undo many of these reforms.

Congress should find a way to address both the immediate and long-term concerns of their constituents, and the rest of the nation. We can’t ignore the plight of families facing hefty insurance increases, and we must ensure that the process of making flood insurance reflect flood risk is fair and transparent. But we also can’t ignore the increasing costs and risks associated with growing coastal development in an era of rising seas and heavier precipitation.

Among the problems with the National Flood Insurance Program (NFIP) that we outlined in a C2ES brief:

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