How the New Flood Insurance Reforms Make Costly Future Climate Disasters More Likely

On Friday, President Obama signed into law the Homeowner Flood Insurance Affordability Act, very aptly named as it helps homeowners living in flood zones afford their insurance rates.  The only problem is that some homeowners just shouldn’t be living in flood zones, and their rising insurance rates were meant to reflect that.  This is especially true in coastal flooding zones where rising sea levels due to climate change, extreme weather events and human-induced erosion and environmental degradation can make the risks outweigh the benefits, and the costs — for which taxpayers are liable — exceedingly high.

How the New Flood Insurance Reforms Make Costly Future Climate Disasters More Likely