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[BUSINESS] · United States · 6 sources

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Part of situation: US flood insurance and FEMA mapping challenges (2 clusters)

National Flood Insurance Program faces coverage gaps and mapping flaws

flood insurance FEMA climate change National Flood Insurance Program flood risk

An Associated Press analysis reveals significant flaws in the United States' National Flood Insurance Program, highlighting a major gap between flood risk and insurance coverage. While 8.4% of properties nationwide are at severe or extreme risk of flooding, only 2.4% are covered by the 4.5 million existing federal policies.

The vulnerability is particularly acute in eastern Kentucky, where some ZIP codes report insurance coverage of 5% or less despite high risk levels. Similar patterns of low coverage in high-risk areas are noted in coastal regions like southern Louisiana. Experts suggest that these uninsured areas often correlate with lower-income communities.

Key issues identified include rising premiums and inaccurate FEMA flood maps, which may fail to convey the true extent of flood risks to property owners. This lack of accurate mapping can prevent homeowners from being mandated to purchase coverage. The program, established by Congress in 1968, is currently struggling to balance affordability with the increasing flood risks driven by climate change.

Entities

FEMA · Federal Emergency Management Agency · First Street · Kentucky · Louisiana · National Flood Insurance Program

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Millions Who Need Flood Insurance The Most Don’t Have It As Flawed Federal Program Raises Prices [vinnews.com]
Takeaways from the AP’s analysis on the fundamental flaws in the national flood insurance program [mymotherlode.com]
America’s flood insurance gap is growing [www.businessreport.com]
Takeaways from the AP's analysis on the fundamental flaws in the national flood insurance program [krmg.com]
Takeaways from the AP's analysis on the fundamental flaws in the national flood insurance program [www.newsday.com]
Takeaways from the AP's analysis on the fundamental flaws in the national flood insurance program [www.independent.co.uk]