Heavy Weather: How Climate Destruction Harms Middle - Center for ...

climateaccess.org
  • No tags were found...

Heavy Weather: How Climate Destruction Harms Middle - Center for ...

are required to purchase additional insurance through their provider or from theNational Flood Insurance Program. 50A Congressional Research Service report notes that the Federal EmergencyManagement Agency lacks nationwide data on the number of properties that arewithin floodplains. A Rand Corporation study from 2006, however, estimates thatabout 49 percent of properties in “special flood hazard areas” purchased insurancefrom the National Flood Insurance Plan. “Special flood hazard areas” are designatedareas where homebuyers must purchase flood insurance in order to receivefederally backed mortgages. 51 Only 1 percent of properties outside of these areaspurchased flood insurance. The Congressional Research Service indicates thatthere is concern “about the large number of homes that are not [federally backed]mortgages and thus are not required to be insured against flood risks.” 52HurricanesTropical storms and hurricanesMedian household income for counties affected by billion-dollar extreme weatherevents in 2011-2012Fast facts• Hurricane Isaac inflicted $2 billion in damages and destroyed13,000 homes in Louisiana and Mississippi inSeptember 2012; the average annual income of thesehouseholds was 10 percent below the U.S. medianannual household income• The journal Science predicts that the number of category4 and category 5 hurricanes will double by theend of the century$0-$20,000$20,000-$40,000$40,000-$60,000$60,000-$80,000More than $80,000• Lower-income and rural residents generally have lessaccess to evacuation information in advance of tropicalstorms and hurricanesOverall, hurricanes in 2011 and 2012 affected higher-income areas, butmillions more Americans will be vulnerable to these storms in the future.According to the U.S. Census Bureau, 30 percent of the nation’s total populationlived in the Atlantic and Gulf Coasts in 2010. 53 The population of11 Center for American Progress | Heavy Weather: How Climate Destruction Harms Middle- and Lower-Income Americans

More magazines by this user
Similar magazines