Flood maps are used by insurance companies to set their rates. If the risks are artificially low to keep insurance rates low in Florida, that smells like corruption.
The article is about North Carolina. That’s where the devastating flooding outside of flood zones was. Obviously there are wider implications nationwide but it’s not a Florida specific problem.
Flood maps are used by insurance companies to set their rates. If the risks are artificially low to keep insurance rates low in Florida, that smells like corruption.
The article is about North Carolina. That’s where the devastating flooding outside of flood zones was. Obviously there are wider implications nationwide but it’s not a Florida specific problem.
Corruption is still the prime suspect here. Developers have a much harder time selling property that requires flood insurance.