Pralle talks to Forbes about FEMA's upcoming changes, flood insurance
March 19, 2021
Flood insurance premiums for millions of at-risk homes and businesses could surge as much as four times what they currently pay over the next few years when FEMA announces its "Risk Rating 2.0." For homeowners, or prospective buyers, "rising insurance rates could lead to a reduction in home values," says Sarah Pralle, associate professor of political science, and "they could be forced to sell at a loss, or even abandon their property." Pralle agrees that flood insurance has to change, but the government needs to "help vulnerable communities and homeowners who’ll struggle with the transition." Read more in the Forbes article, "FEMA’S Upcoming Changes Could Cause Flood Insurance To Soar At The Shore."
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