Senator Whitehouse Senate Flood Speech Notes Florida Insurance Markert Stress Due to HurricanesSenator Whitehouse recently made a speech describing how Florida home insurance programs have the highest non-renewal rate and highest premiums, as well as increases of up to 300 percent over the next 30 years. He also pointed to the risks create by unrealistic home assessments by home rating agencies, including Demotech. Climate Change Drives Down Home ValuesA new report from First Street, a property risk assessment firm, reports an expected reduction in home values of about $147 trillion over the next thirty years due to climate change. …climate change is disrupting established patterns of migration. Regional desirability is being reshaped by chronic changes in climate across the country: coastal areas are increasingly threatened by sea level rise, while inland regions face intensifying heat waves, droughts, and floods.
A key finding of the report concerns coastal metro areas: "The five largest metro areas facing the highest insurance premium increases are Miami (322%), Jacksonville (226%), Tampa (213%), New Orleans (196%), and Sacramento (137%)." SAFE Rural Act for Storm ResilienceThis article in the Carolina Journal describes new legislation introduced by Rep. Harrigan, the SAFE Rural Act for Storm Resilience, that would use a 2 percent set-aside from the Disaster Relief Fund to: …create within the Federal Emergency Management Agency (FEMA) a fund dedicated to flood resilience, using a formula to ensure funding for smaller communities rather than requiring them to compete with larger communities for federal funding. This streamlines the grant process for critical infrastructure projects, including roads, bridges, culverts, and drainage systems.
Read the press release and the bill text. President Trump Overrules FEMA Officials on Approval of Disaster Aid to Democratic StatesPolitico reports on the continuing politicization of approval of state requests for disaster assistance: Emails between state and federal officials obtained by POLITICO along with more than 150 pages of documents submitted to FEMA by three states — New Jersey, Massachusetts and Rhode Island — provide new details about Trump’s low rate of approving disaster aid for his political adversaries. He also denied a request by New York after administration officials verified that it had met federal standards for approval, according to state officials. Trump’s rejections came after regional offices of the Federal Emergency Management Agency and NOAA determined that the states met government thresholds for receiving aid following a record-breaking snowstorm in February.
EPA Reverses Course on Alabama Toxic Coal Ash DisposalThis article in Inside Climate News describes how the EPA has proposed to abandon a Biden Administration plan for managing coal ash in storage sites along Alabama rivers in favor of a less stringent state plan. Coal ash is stored at some six major sites along Alabama rivers and releases from any of these sites could reach coastal waters. The article points to special concerns for the storage site closest to the coast: The environmental group Mobile Baykeeper is suing Alabama Power over the 600-acre coal ash pond at the James M. Barry Electric Generating Plant in Bucks, Ala., where 21.7 million tons of coal ash is stored near the headwaters of the Mobile-Tensaw Delta.
More information about coal ash and other coastal pollution sources is available in this CFRP White Paper. New Guide for Resilience Project FinancingThe Resilience Finance Guidebook for Local Governments, developed by ICLEI USA and the Nicholas Institute for Energy, Environment & Sustainability at Duke University takes on the question: “If the need for resilience is so clear, why is it still so hard to finance?” Author Victoria Salinas comments: But too often, resilience goals never turn into completed projects. Not because the need is unclear. Because the path from plan to project to capital strategy is still too hard to navigate. The guide is not another inventory of funding programs. Rather, it tackles the harder middle step: turning resilience plans into projects that can be structured, funded, financed, approved, or reworked before they stall.
Also, consider registering for the related Resilience Finance Webinar on August 25. Educating Realtors About Coastal RiskThis article by the National Estuarine Research Reserve Association describes different efforts in four states (Georgia, New Hampshire, North Carolina, and South Carolina) to educate realtors about coastal risks. While real estate professionals cannot be expected to double as engineers or scientists, understanding concepts like living shorelines helps them spot potential opportunities and challenges, and point clients toward the right resources when questions go beyond their expertise. The result? A more informed real estate industry—valued at roughly $179 billion in 2025—better equipped to help buyers and sellers navigate the realities of living along America’s coasts.
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