• Home
  • About Us
    • Our History & Accomplishments
    • Our Leader
    • LMA Gives
    • Photo Gallery
    • Library & Resources
  • Services
    • Assignment of Benefits & Insurance Litigation
    • Associations & Nonprofits
    • Business Development & Procurement
    • Education
    • Energy & Environment
    • Emergency Management
    • Flood Insurance & Resilience
    • Healthcare
    • Insurance/Financial Services
    • Legislative & Regulatory Monitoring
    • Marketing Intelligence
    • Property & Casualty Insurance
    • Public Relations
  • News / Podcasts / Library
  • Contact
  • Home
  • About Us
    • Our History & Accomplishments
    • Our Leader
    • LMA Gives
    • Photo Gallery
    • Library & Resources
  • Services
    • Assignment of Benefits & Insurance Litigation
    • Associations & Nonprofits
    • Business Development & Procurement
    • Education
    • Energy & Environment
    • Emergency Management
    • Flood Insurance & Resilience
    • Healthcare
    • Insurance/Financial Services
    • Legislative & Regulatory Monitoring
    • Marketing Intelligence
    • Property & Casualty Insurance
    • Public Relations
  • News / Podcasts / Library
  • Contact
  • MENU

New Tool Assesses Flood Risk

SHARE THIS

Private modeling turning public!

Pensacola, Florida: 1 in 100 annual flood risk or 1% for the year 2020. Source: First Street Foundation

There’s another report that came out this week quantifying the under-classification and reporting of high-risk flood properties here in Florida and in the United States.  But this one has an interesting addition – a property-specific look-up data tool that property owners can use to see any past flood events as well as future risk to their properties.  The report is the first of its kind in scope and accessibility on the dangers of flood risk.

As we know, some National Flood Insurance Program (NFIP) flood maps haven’t been updated in years – some in more than two decades.  The report by First Street Foundation drew on decades of peer-reviewed research and the expertise of more than 70 scientists and other experts to calculate the current and future flood risk for each property in the lower 48 states and D.C.

First Street’s model shows 14.6 million properties, representing 10.3% of all properties in the 48 states & D.C. are at risk from a 1-in-100-year flood.  That compares with the 8.7 million properties listed on the NFIP’s current flood maps.  Florida’s risk is even greater – 20.5% of our properties are at substantial risk today and 24.3% at substantial risk by the year 2050.  That gap equates to 113,965 Florida properties that should be categorized today as being in Special Flood Hazard Areas, but are not.

Palm Beach County on the east coast and Lee County on the west coast have the highest discrepancy in the number of properties so categorized.   Florida counties with the highest percentage of discrepancies are Duval 67.3%, Volusia 48.7%, Nassau 43%, Sarasota 39.4%, St. Johns 29.7%, and Miami-Dade and Orange, each around 25%.

First Street, which is a nonprofit organization, is also making available to the public a free property-specific web application called Flood Factor.  Property owners can see any history of flooding, the current modeled risk, and projected risk over the next 15 and 30 years.  The website has a section labeled “Solutions to Protect Your Property” with helpful tips, but is missing one that we preach regularly: purchase flood insurance!

First Street also has a project called Flood Lab, which is a collaboration with research universities to use the data to further evaluate vulnerabilities and assess resilience and mitigation options with an eye toward doing what we always admire: reduce risk.  The Florida schools taking part are Florida Atlantic University, the University of Central Florida, and the University of Miami.

LMA Newsletter of 7-6-20

SHARE THIS

Tags: FEMA, First Street Foundation, Flood Factor, Flood Insurance, Flood Lab, Flood Maps, Flood risks, Florida Flooding, National Flood Insurance Program

“Another great Newsletter on Florida industry this week.  Your service and advocacy in Florida is very important to keeping me updated and apprised of the Florida insurance laws, trends and overall environment.  Something similar is very much needed in Louisiana, too.”

Jennifer Tedesco, Esq., Claims Director
Pharos Claims Services
Orlando, FL

“Lisa this is another great newsletter, and we appreciate the time and energy you put into these informative updates – you are on top of these topics!”

Mike Graham, CEO
Smart Vent Products, Floodproofing.com, & Risk Reduction Plus
Juno Beach, FL

“Great article on Risk Rating 2.0!”

Austin Perez, Senior Policy Representative for Federal Housing, Valuation, Insurance and Commercial Issues
National Association of Realtors
Washington, D.C.

“Just a quick note to let you know how much I have appreciated your newsletter over the years and the assistance they offer for those in the field of claims. We depend on the information more than you will ever know!”

Laurie Rasberry, Chief Claims Officer
Acorn Claims
Prosper, Texas

“Just wanted to say that I thoroughly love your newsletter. It’s is always informative and insightful to the ins and outs of our industry.  You are an inspiration and an important asset in the insurance world.  Keep up the great work!” 

Cynthia Scott, President
University Insurance Group
Davie, FL

“I have followed your weekly newsletter and podcasts and now have a full appreciation for what you bring to this industry.  You are an inspiring force, plain and simple.  I wanted you to know that you make a difference.  Thank you for all you do!”

Jeffrey Karam, CPCU
Bradenton, FL

“Lisa Miller is a true champion for the insurance industry, with her regular updates! We appreciate all you do and keeping us up to date on priority issues!”

Gillian Lloyd, Account Executive
Zywave
Milwaukee, WI

“Your newsletter is fabulous!  I greatly appreciate the topics you expose, so that insurance professionals like myself can keep up with the latest events that affect the public we serve and ourselves.”

Cynthia Hoehn, Independent Property & Casualty Personal Lines insurance agent
Clermont, FL

“Thank you Lisa for staying on top of, as well as advocating, for Florida residents and legislative reform. Your newsletters are very informative and enjoy reading the points of view.”  

Shawna Miller, Sr. Claims Quality Assurance & Compliance Manager
Florida Peninsula Insurance Company
Jacksonville, FL

GET THE LATEST UPDATES IN YOUR INBOX FOR FREE!

SUBSCRIBE NOW

READ THE LATEST LMA NEWSLETTER ONLINE NOW

READ NOW

331 N. Monroe Street
Tallahassee, FL 32301
(850) 222-1041
[email protected]

*DBE certified through affiliate Lisa Miller Consultants

© Copyright 2008 - 2023
Lisa Miller Associates
All Rights Reserved
Managed by SiteBolts