Tag Archives: Flood

Mangroves and Reefs: Insurance Can Help Protect Our Protectors

Hurricanes and storm-related flooding are responsible for the bulk of damage from disasters in the United States, accounting for annual economic losses of about $54 billion, according to the Congressional Budget Office (CBO).  

These losses have been on the rise, due, in large part, to increased coastal development. More, bigger homes, more valuables inside them, more cars and infrastructure – these all can contribute to bigger losses. The CBO estimates that a combination of private insurance for wind damage, federal flood insurance, and federal disaster assistance would cover about 50 percent of losses to the residential sector and 40 percent of  commercial sector losses. 

Recent research illustrates the benefits provided by mangroves, barrier islands, and coral reefs – natural features that frequently fall victim to development – in terms of limiting storm damage. In many places, mangroves are the first line of defense, their aerial roots helping to reduce erosion and dissipate storm surge. A healthy coral reef can reduce up to 97 percent of a wave’s energy before it hits the shore. Reefs — especially those that have been weakened by pollution, disease, overfishing, and ocean acidification — can be damaged by severe storms, reducing the protection they offer for coastal communities. 

In Florida, a recent study found, mangroves alone prevented $1.5 billion in direct flood damages and protected over half a million people during Hurricane Irma in 2017, reducing damages by nearly 25% in counties with mangroves. Another study found that mangroves actively prevent more than $65 billion in property damage and protect over 15 million people every year worldwide.  

A separate study quantified the global flood-prevention benefits of coral reefs at $4.3 billion.  

Such estimates invite debate, but even if these endangered systems provided a fraction of the loss prevention estimated, wouldn’t you think coastal communities and the insurance industry would be investing in protecting them? 

Well, they’re beginning to.  

The Mexican state of Quintana Roo has partnered with hotel owners, the Nature Conservancy, and the National Parks Commission to pilot a conservation strategy that involves coral reef insurance. The insurance component – a one-year parametric policy – pays out if wind speeds in excess of 100 knots hit a predefined area. Unlike traditional insurance, which pays for damage if it occurs, parametric insurance pays claims when specific conditions are met – regardless of whether damage is incurred. Without the need for claims adjustment, policyholders quickly get their benefit and can begin their recovery. In the case of the coral reef coverage, the swift payout will allow for quick damage assessments, debris removal, and initial repairs to be carried out.  

Similar approaches could be applied to protecting mangroves, commercial fish stocks that can be harmed by overfishing or habitat loss, or other intrinsically valuable assets that are hard to insure with traditional approaches.  

NHC warns on rainfall and flooding from Tropical Storm Cindy

Heavy rainfall due to Tropical Storm Cindy is expected to produce flash flooding across parts of southern Louisiana, Mississippi, Alabama, and the Florida Panhandle, according to the National Hurricane Center (NHC).

Total rain accumulations of 6 to 9 inches with isolated maximum amounts of 12 inches are expected in those areas, the NHC says.

On Tuesday, Alabama Governor Kay Ivey declared a statewide state of emergency in preparation for severe weather and warned residents to be prepared for potential flood conditions.

FEMA flood safety and preparation tips are here.

Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.

Insurance Information Institute flood insurance facts and statistics show that the number of flood insurance policies increased in Alabama, Louisiana and Mississippi after 2005’s Hurricane Katrina.

Here are the numbers:

Post-Matthew Update: How To Safely Clean Up Mold After A Flood

Guest Post: CDC

Returning to your home after a flood is a big part of getting your life back to normal. But consumers and small businesses may be facing a new challenge: mold. What can you do to get rid of it? How do you get the mold out of your home or office and stay safe at the same time? CDC has investigated floods, mold, and cleanup, and offers practical tips for homeowners and others on how to safely and efficiently remove mold from the home.

In 2005, thousands of people along the Gulf Coast were faced with cleaning up mold from their homes after Hurricanes Katrina and Rita. One of our first concerns was to let homeowners and others know how they could clean up mold safely. After Hurricane Sandy in 2012, we teamed up with other federal agencies to provide practical advice on mold cleanup. This guidance outlines what to do before and after going into a moldy building, how to decide if you can do the cleanup yourself or need to hire someone, and how you can do the cleanup safely.

Prepare To Clean Up

Before you start any cleanup work, call your insurance company and take pictures of the home and your belongings. Throw away, or at least move outside, anything that was wet with flood water and can’t be cleaned and dried completely within 24 to 48 hours. Remember, drying your home and removing water-damaged items is the most important step to prevent mold damage.

Protect Yourself

We offer specific recommendations for different groups of people and different cleanup activities. This guidance educates people about the type of protection (think: gloves, goggles, masks) you need for different parts of your mold cleanup. It also identifies groups of people who should and should not be doing cleanup activities.

Be Safe With Bleach

Many people use bleach to clean up mold. If you decide to use bleach, use it safely by wearing gloves, a mask, and goggles to protect yourself. Remember these four tips to stay safe:

  • NEVER mix bleach with ammonia or any other cleaning product.
  • ALWAYS open windows and doors when using bleach, to let fumes escape.
  • NEVER use bleach straight from the bottle to clean surfaces. Use no more than 1 cup of bleach per 1 gallon of water when you’re cleaning up mold.  If you are using stronger, professional strength bleach use less than 1 cup of bleach per gallon of water.
  • ALWAYS protect your mouth, nose, skin, and eyes against both mold and bleach with an N-95 mask, gloves, and goggles.  You can buy an N-95 mask at home improvement and hardware stores.

You can take steps to keep yourself and others protected while cleaning up mold after a flood. Make sure to follow CDC’s recommendations so you can return home safely.

Resources