
by James A. Bacon
I don’t share the apocalyptic alarmism of those who assert that global warming is increasing the frequency and severity of hurricanes. (Read Roger Pielke’s latest essay on the use of a fake data set to buttress the claim.) But I do agree about one thing. Flooding in Hampton Roads is increasing in frequency and severity. And I also agree that it makes no sense for federal flood insurance to repeatedly reimburse property owners for damage to flood-prone housing if they refuse (or cannot afford) to invest in risk mitigation.
The Virginia Mercury highlights a new tool created by the National Resources Defense Council (NRDC), which reveals that owners of 7,000 Virginia properties made repeated claims for flood damage over 10 years. Of those, only 554 mitigated their flood risk by filling their basements, raising their houses, or replacing their houses with structures better able to withstand flooding. Reports the Mercury:
In Virginia, three-quarters of the repetitive loss properties are in Hampton Roads. Of those, 841 are severe repetitive loss properties, which have reported four or more claims of more than $5,000. The vast majority โ 689 โ have not been mitigated against future flooding. They accounted for 1% of the Virginia claims but 21% of the payments.
Advocacy of flood-insurance reform represents a rare but happy conjunction of fiscal conservatism and environmentalism.
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