Towards A Flood Resilient Future: A US-Perspective
White Paper Summary
From a flood insurance penetration standpoint the insurance industry is behind the curve. Post Hurricane Harvey, it came to light that a staggering 80% of the homes in Houston were not insured for flood.1 The flood insurance penetration rate was not much better in New York and New Jersey during Superstorm Sandy2. Note that these are coastal states where hurricanes and extreme flooding events are common and where homeowners and businesses should be more aware of the risks. Across the country, according to the Insurance Information Institute, only about 12% of homeowners in the U.S. purchase flood insurance.3
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