Cities are Flouting Flood Rules. The Cost: $1 Billion.
A new article in the New York Times highlights the nearly quarter-million flood insurance policies that are in violation of a simple rule: if you want publicly-subsidized flood insurance, you cannot build a home that is likely to flood.
According to data from the Federal Emergency Management Agency (FEMA), which runs the flood insurance program, these claims accounted for over $1 billion in flood insurance claims over the past decade-- a toll likely to increase as climate change causes more frequent and severe flooding.
According to the article, "Local governments are responsible for enforcing the requirements, but almost none have been penalized for failing to do so. “There’s no negative consequences for violating the rules,” said Rob Moore, a senior policy analyst with the Natural Resources Defense Council."
Read the full article here.