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Organizations Involved: Sabin Center
Source: Sabin Center


“The federal government has attempted to address flooding through an insurance program aimed at effectively providing relief to those whose property is damaged by flooding and at incentivizing sound risk management. However, the federal insurance program subsidizes flood insurance premiums, and, therefore, does not require property owners to internalize the costs of living in a flood prone area. In practice, the federal insurance program shifts much of the costs of flood damage to the government and taxpayers in general. Though there have been recent efforts to address the dangers of flooding, particularly in light of the increasing risk of climate change driven flooding, political pressures have robbed these measures of their effectiveness.

This paper provides details on the operation and functions of the National Flood Insurance Program (NFIP) and then discusses the ways the regime discourages adaptation to climate change. Finally, the paper concludes with suggestions for how readers can promote climate change adaptation by advocating for changes to the NFIP.”

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