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Figure 12
Coastal
Inundation Arising from Hypothetical Increases in Sea
Level. Source: GFDL/NOAA
COASTAL
EROSION
Coastal erosion is a hazard that is not insured by the
public or private sectors in the U.S. However, the
federal flood program will pay for coastal erosion
damage when there has been insured flood damage from a
storm. Under climate change, government-insured flood
losses will increase due to the combination of sea-level
rise, increased storm surges, and potentially stronger
storms (Figure 12). This will be a future problem for
both the National Flood Insurance Program and the
increasing number of coastal property owners.
Excerpted from
Availability and Affordability
of Insurance Under Climate Change: A Growing Challenge
for the U.S.
Evan Mills, Ph.D. • Richard J. Roth, Jr. •
Eugene Lecomte
This is an excerpt
from a report commissioned by Ceres, a national
coalition of investors, environmental organizations, and
other public interest groups working with companies to
address sustainability challenges such as climate
change. Helpful comments were provided by Tim Wagner
(Nebraska Insurance Director), Nettie Hoge (California
Insurance Commission), Richard Roth, Sr., Nancy Skinner,
and Andrew Logan. The opinions expressed herein are
those of the authors.
www.ceres.org |
