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A data tool developed by the Natural Resources Defense Council (NRDC) reveals that while less than 1% of homes within the National Flood Insurance Program (NFIP) experience severe and repetitive flooding, these properties contribute to over 10% of NFIP claims. Although less than 1% of NFIP policies specifically insure homes classified as severe repetitive loss properties, this percentage is on the rise. The NRDC's report indicates a nearly 20% increase in the number of homes meeting the criteria since 2020.
Property & Casualty
January 25, 2024, 8:52 AM