2019 has been an unprecedented year for flooding, even before the start of hurricane season. Despite the number of devastating hurricanes in recent years, a new University of Notre Dame study published in Climatic Change found that most coastal residents do not plan to take preventative action to reduce damages.

In addition to speeding up the recovery process, taking action before disaster strikes can help homeowners reduce damages, save money and even lives. For riverine floods, every dollar spent before a disaster saves $7 in property loss, business interruption and death.

So how can individuals, businesses and the public sector be incentivized to make proactive investments to reduce vulnerability before a disaster strikes? The first step is clearly understanding risks—now and in the future—and having concrete recommendations for how to mitigate them.

In the past, FEMA’s National Flood Insurance Rate Maps have been the source for this information; however, these probability-based maps have not resonated with most people as they rely on the obscure “100-year floodplain” concept. Being told you live in an area that has a 1 percent chance of flooding any given year does not inspire action, nor does it reflect the reality of a changing climate.

In recent years, states have stepped up with more robust tools that give residents a clearer depiction of risks and resources for how to reduce them. Three states stand out. Read More »