More important for flood insurance to be ‘actuarily sound’ than affordable: APCIA panel

November 02, 2021

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APCIA conference climate panel.jpg — Craig Fugate and Douglas Holtz-Eakin

Charging adequate premiums is a fundamental tool to ensure resiliency amid rising climate concerns, according to a panel of experts speaking on mitigation and resiliency in the climate change debate.

Former FEMA administrator Craig Fugate said: “Pricing risks, what people can afford, will change behavior. Providing the false economy of subsidized rates just makes it worse, and, ultimately, it is the taxpayer [who’s going to] pick up the bill.”

Fugate...

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More important for flood insurance to be ‘actuarily sound’ than affordable: APCIA panel

Charging adequate premiums is a fundamental tool to ensure resiliency amid rising climate concerns, according to a panel of experts speaking on mitigation and resiliency in the climate change debate.

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