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Stories Tagged as

Natural disasters

Billions are spent on housing after disasters. Why does recovery take so long?

by Elizabeth Trovall
Nov 12, 2024
Federal funding doesn't become available for rebuilding efforts until an average of two years after a storm, one study showed.
After a natural disaster, it can take years for states to receive HUD and FEMA rebuilding funds. Above, flooding in Houston, Texas after Hurricane Harvey in 2017.
Thomas Shea/AFP via Getty Images
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How insurers are paying for Helene and Milton

by Sabri Ben-Achour
Nov 5, 2024
As communities recover from Helene and Milton, insurance sometimes needs insurance of its own.
Debris piled up in The Village Potters Clay Center. Hurricane Helene swept through Asheville, North Carolina, in late September, flooding the pottery studio up through the second floor.
Courtesy Sarah Wells Roland
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A Warmer World

As weather disasters intensify, state and local governments are footing more of the recovery bill

by Caleigh Wells
Oct 8, 2024
Recovery goes on long after the cameras have moved on.
Most disaster recovery is reactive, said Andrew Rumbach at the Urban Institute. He said more investment in preventative measures could mitigate the impact of storms and other disasters.
Joe Raedle/Getty Images
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Many people don't realize their home insurance doesn't cover flooding

by Samantha Fields
Sep 13, 2024
As Hurricane Francine made landfall, 14 million people were under flood watches. But only 6% of American homeowners are insured against flooding.
Nationally, just 6% of homeowners have flood insurance, said Mark Friedlander of the Insurance Information Institute.
Megan Varner/Getty Images
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A Warmer World

As more Floridians turn to state's insurer of last resort, it seeks to raise rates

by Kimberly Adams
Jun 21, 2024
Citizens Property Insurance has a huge risk load as private insurers avoid the state. Many residents say coverage is already costly.
A home in the Florida Keys destroyed by Hurricane Irma in 2017. For insurance companies, the state's exposure to climate damage has been a dealbreaker.
Joe Raedle/Getty Images
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Scientists hope to improve hurricane forecasting with new government investment

by Samantha Fields
May 27, 2024
Forecasters are predicting an active, dangerous year of hurricanes.
Above, Sarasota Bay during Hurricane Ian in September 2022. The National Oceanic and Atmospheric Administration predicts that this year will have above-normal hurricane activity.
Sean Rayford/Getty Images
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Why the CAT bond market is booming right now

by Henry Epp
Mar 13, 2024
They're called CAT — for catastrophe — bonds, and insurers and investors can't get enough of them.
If disaster does strike, CAT bond investors could potentially lose the principal, interest or both. Above, destroyed homes and storm debris in Florida after Hurricane Ian in 2022.
Giorgio Viera/AFP via Getty Images
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A Warmer World

SEC adopts rule making companies disclose climate risks

by Elizabeth Trovall
Mar 7, 2024
The rules are softer than those initially proposed.
New SEC rules are intended to standardize reporting requirements on things like emissions and exposure to climate change-related disasters.
Giles Clarke/Getty Images
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Flood insurance program updates hit homeowners hard

by Ali Budner
May 16, 2023
In some counties, the rates for property owners have increased on average more than 600 percent.
The federal government's flood insurance program is now more accurate in its risk assessment. That's affecting the price of buying insurance for many homeowners.
David Greedy/Getty Images
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A Warmer World

Hurricane risk will grow in the coming decades, report warns

by Amy Scott
Mar 1, 2023
A new tool shows the likelihood of wind damage by property address.
Cleared lots were all that remained of some homes in Fort Myers Beach, Florida, in late January, months after Hurricane Ian ravaged the area.
Joe Raedle/Getty Images
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