Economics

The Hard Math of Flood Insurance in a Warming World

Sat, 2013-10-26 23:14 — Kathy Gilbeaux

A man walks through flooded streets in Hoboken, New Jersey, after Superstorm Sandy | Emile Wamsteker/Bloomberg via Getty Images

As subsidized rates of federal flood insurance rise, property owners along the coasts get angry. But we need insurance that reflects the risks of a changing planet

time.com - by Bryan Walsh - October 1, 2013

Thousands of homeowners in flood-prone parts of the country are going to be in for a rude awakening. On Oct. 1, new changes to the National Flood Insurance Program (NFIP), which offers government-subsidized policies for households and businesses threatened by floods, mean that businesses in flood zones and homes that have been severely or repeatedly flooded will start going up 25% a year until rates reach levels that would reflect the actual risk from flooding. (Higher rates for second or vacation homes went into effect at the start of 2013.) That means that property owners in flood-prone areas who might have once been paying around $500 a year—rates that were well below what the market would charge, given the threat from flooding—will go up by thousands of dollars over the next decade.

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Canarsie Community <Light our Way to Recovery> October 29, 2013, Canarsie Park 6:30pm

Thu, 2013-10-17 14:09 — debbiefook

Light Our Way To Recovery is a candlelight commemorative gathering of the constituents of the Canarsie community, one of the many disaster impacted communities on the Eastern USA coastline. This event is given in remembrance of those persons who lost their lives as a result of Hurricane Sandy; to honor the people who volunteered and who continue to help; to highlight the need for support for Canarsie disaster victims who continue to struggle to rebuild, recover and survive the emotional maelstrom caused by the life changing events of October 29th 2012.

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DEC Accepting Applications for Environmental Grant

Wed, 2013-10-16 18:34 — Kathy Gilbeaux

Press Release - October 15, 2013

Assemblyman Goldfeder Announces DEC Accepting Applications for Environmental Grant

State Funding Available to Improve Urban Environments & Parks, Especially in Sandy-Damaged Neighborhoods Nearly $500,000 in Grants Will Be Provided to Eligible Applicants, Including Municipalities, Public Benefit Corporations, Public Authorities, School Districts and Not-for-Profit Organizations

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Reinsurance Association of America's Senate Testimony on Climate Change

Sat, 2013-10-05 17:08 — admin

On July 18, 2013, Frank Nutter, President of the Reinsurance Association of America, testified before the Senate Committee on Environment Protection and Public Works as to the RAAs perspective on weather and climate-related impacts in the United States.

Following are excerpts from his report:

"In the 1980’s, the average number of natural catastrophes globally was 400 events per year. In recent years, the average is 1000. Munich Re’s analysis suggests the increase is driven almost entirely by weather-related events. North America has seen a fivefold increase in the number of such events since 1980. In comparison, Europe has seen a twofold increase.

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Coastal, Riverbank Homeowners Brace for U.S. Flood Insurance Hike

Mon, 2013-09-30 20:00 — Kathy Gilbeaux

A home destroyed during the landfall of Superstorm Sandy is pictured in Mantoloking, New Jersey March 22, 2013. Credit: REUTERS/Lucas Jackson

reuters.com - by Barbara Liston - September 24, 2013

(Reuters) - More than a million homeowners living in older houses along the coastlines and riverbanks of the United States are being jolted by federal flood insurance rate hikes under a law passed in the wake of devastating storms.

Carol Giovannoni, 51, of St. Pete Beach, a barrier island community off Florida's west coast, is one of the people dreading October 1, when the law takes effect. Giovannoni said the annual flood insurance premium on her standard 1950s concrete-block, ranch-style home on the waterfront will jump from $1,700 to $15,000 over the next few years.

(READ COMPLETE ARTICLE)

CLICK HERE - Flood Insurance Reform Act of 2012

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Guidance for Community Reconstruction Zone Plans - A Planning Toolkit for CRZ Planning Committees

Wed, 2013-08-07 16:07 — Kathy Gilbeaux

nysandyhelp.ny.gov

Through the Community Reconstruction Zone
(CRZ) Program, New York State is assisting communities
to rebuild better and safer based on community-
driven plans that consider current damage,
future threats to community assets, and the community’s
economic future. In keeping with the National
Disaster Recovery Framework, CRZ Plans will consider
the needs, risks, and opportunities related to
assets in the following categories of recovery support
functions: Community Planning and Capacity
Building, Economic Development, Health and Social
Services, Housing, Infrastructure, and Natural and
Cultural Resources.

By completing a successful Plan, each participating
community will position itself to obtain funding to
implement that Plan to improve the community’s
future.

NY - Recovery Resources Center

Guidance for Community Reconstruction Zone Plans -
A Planning Toolkit for CRZ Planning Committees
(81 page .PDF report)

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Transparency in Supply Chains: A Convergence of Possibilities

Sat, 2013-02-09 16:05 — Kathy Gilbeaux

csi.gsb.stanford.edu - Kriss - February 4, 2013

Where do the products we buy come from and how do we know that their production doesn’t leave a wake of environmental damage or exploited workers? Even brands we think we trust are often linked to suppliers with questionable or downright abusive practices, as exemplified in the November factory fire in Bangladesh, where 112 workers were killed at a factory that supplied Walmart, Sears and even the U.S. Marine Corps, though all claim they had no idea that apparel produced there was destined for their stores.

Global supply chains are complex and opaque, with many layers of suppliers, distant and inconsistent regulatory environments, and intermittent and sometimes unreliable audits and reporting.

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Hurricane Sandy's Economic Damage Could Reach $50 Billion, Eqecat Estimates

Thu, 2012-11-01 19:25 — Maeryn Obley

huffingtonpost.com - November 1st, 2012 - Matthew Craft

Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history, according to the forecasting firm Eqecat. That would rank it right behind Hurricane Katrina.

Eqecat said Thursday that the damage from the storm will likely be far worse than it previously predicted, largely a result of Sandy hitting the most densely populated area in the country.

The firm doubled its previous estimate for the total bill and now says Sandy may have caused between $30 billion and $50 billion in economic losses, including property damage, lost business and extra living expenses.

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