Following the ruling, which went into effect on July 1, 2019, the FDIC, OCC, and the Federal Reserve have all updated the necessary manuals for regulated financial institutions to ensure compliance. There are four primary components to this final ruling, which we will explain in...
Climate change is a topic on everyone’s mind, but one of the issues that has been overlooked by far too many homebuyers is how it will affect real estate. As the oceans rise, shore side properties can find themselves prone to flooding and damage from...
Unfortunately killing 150 people and causing $70 billion dollars in damaged buildings and infrastructure. There was a lot of support from Governments and individuals towards the devastated communities and funds for helping rebuild and relief....
When slow moving storms are hitting the Texas coast, causing large amount of area getting flooded. These storms have been noticed to shackle themselves to Houston, quite frequently, and with the continuous pavement downtown enhances it....
You would think the people of the small towns of Nicholas and Rosewood would pack up their stuff and move somewhere safer after having their homes flooded out twice in the last three years. The obvious answer is don’t rebuild, move....
A paper published in September states that if banks continue to exploit the climate-change epidemic by using it to make more money with the method of buying and selling high risk disaster mortgages to taxpayer- support entities. This will possibly cause a repeat of the...
A recent report by the United Nations shows that even if the world succeeds in meeting the long-term goal established in the Paris Agreement, sea levels will continue to rise faster than earlier thought by the end of the century. If we don't slow down...
In a meeting with House lawmakers, environmental experts warned that the National Flood Insurance Program (NFIP) is at significant risk due to climate change and it's only likely to get worse in the future. The meeting, hosted by the Financial Services Subcommittee on National Security,...
According to a recent study, as the climate continues to heat up, rising sea levels will require 22 states to build some form of seawall or barrier. This covers over 50,000 miles (80,000km) of coastline at a cost in the billions of dollars, which comes...
In order for this to happen, insurers must have access to highly accurate "first-floor height" such as that provided by technology such as the use of LiDAR (light detection and ranging) laser inclinometers. This is far more important than the use of geographic risks...