WASHINGTON POST • October 1, 2021
On Friday, the Federal Emergency Management Agency will incorporate climate risk into the cost of flood insurance for the first time, dramatically increasing the price for some new home buyers. Next April, most current policyholders will see their premiums go up and continue to rise by 18 percent per year for the next 20 years. The price hike under a new assessment, Risk Rating 2.0, will more accurately reflect the threat of flooding in a changing climate, federal officials say.