White Paper

Towards A Flood Resilient Future: A US-Perspective

Insurance plays a major role in developing resilient communities. There are studies that highlight the importance of high insurance penetration and the correlation to strong resilient countries. Where does the insurance industry stand in terms of flood resilience in the U.S?
By:

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.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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The R&I Editorial Team can be reached at [email protected]