The new flood maps, if approved, would add more than 65,000 structures in New York and New Jersey to the 100-year-flood zones—areas that FEMA believes face a 1 percent-a-year change of flooding. Everyone in those zones is required to get flood insurance….
- Learning from Hurricane Sandy and pooling funds for the next catastrophe: Opinion; by James Lee Witt and James Loy
The solution we support would result in a better and more proactive approach and leverage a stronger public-private partnership. This approach would strengthen America’s financial infrastructure by building a privately funded national catastrophe fund.A national catastrophe fund that is part of a comprehensive, integrated program will help address insurance affordability and expand coverage options for all homeowners while protecting taxpayers from the seemingly endless need to provide emergency relief.