{"id":15642,"date":"2017-08-30T09:00:10","date_gmt":"2017-08-30T13:00:10","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=15642"},"modified":"2017-08-30T08:38:36","modified_gmt":"2017-08-30T12:38:36","slug":"the-economics-of-flood-insurance-in-america","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2017\/the-economics-of-flood-insurance-in-america\/","title":{"rendered":"The Economics Of Flood Insurance In America"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2017\/08\/083017_1156_TheEconomic1.jpg\" alt=\"\" width=\"645\" height=\"442\" \/><\/p>\n<p>Government policy had made the impact of Hurricane Harvey worse wrote Michael Grunwald:<\/p>\n<ul>\n<li>The American government offers a heavily subsidized flood insurance program.<\/li>\n<li>The subsidies inadvertently encourage Americans to build homes in flood prone areas.<\/li>\n<li>One home valued at about $100,000 is known to have flooded 16 times in 18 years, and generated claims worth $800,000.<\/li>\n<li>In\u00a01998 just 2% of insured properties\u00a0were estimated to\u00a0be\u00a0responsible for 40% of claims.<\/li>\n<li>In Houston the program has helped\u00a0encourage\u00a0homeowners to spread to former wetlands,\u00a0helping to explain why it has seen three &#8220;500 year floods&#8221; in the past three years.<\/li>\n<li>Climate change\u00a0makes the problem worse but isn&#8217;t thought to be the primary culprit.<\/li>\n<li>An attempt at reform through increased premiums was passed by Congress in 2012, but after opposition from coast and river communities the bill was dropped.<\/li>\n<\/ul>\n<p>Read more on <a href=\"http:\/\/www.politico.com\/magazine\/story\/2017\/08\/29\/a-storm-made-in-washington-215549\">Politico<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government policy had made the impact of Hurricane Harvey worse wrote Michael Grunwald: The American government offers a heavily subsidized flood insurance program. The subsidies inadvertently encourage Americans to build homes in flood prone areas. One home valued at about $100,000 is known to have flooded 16 times in 18 years, and generated claims worth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2017\/08\/083017_1156_TheEconomic1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/15642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=15642"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/15642\/revisions"}],"predecessor-version":[{"id":15646,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/15642\/revisions\/15646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/15641"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=15642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=15642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=15642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}