New Report Highlights Increasing Risks to Coastal Homes from Sea Level Rise and Storm

 The Union of Concerned Scientists (UCS) issued a report Tuesday highlighting that sea level rise and worsening storm surge are increasing both the risks of flooding in coastal communities and the potential for large costs borne by U.S. taxpayers.  Coastal state-subsidized wind insurance programs are also at financial risk.

The report calls for reforms to the National Flood Insurance Program (NFIP) and state-backed wind insurance programs to discourage risky development.

According to the NFIP, although repetitive-loss properties account for just 1.3 percent of overall policies, they have been responsible for 25 percent of all NFIP payments (almost $9 billion) since 1978, and are expected to account for 15 to 20 percent of future NFIP losses.

New Report Highlights Increasing Risks to Coastal Homes from Sea Level Rise and Storm