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New Jersey's Handling of Superstorm Sandy Funds Questioned

Thu, 2014-03-13 10:42 — Kathy Gilbeaux

      

New Jersey Gov. Chris Christie takes questions at a town hall meeting last week in Toms River, N.J. “I never promised you, nor would I, that this was going to be mistake-free,” he said of delivering aid after Superstorm Sandy. (Mel Evans / Associated Press / March 4, 2014)

With many homeowners still waiting for help, officials including Gov. Chris Christie – already battered by the George Washington Bridge scandal – have been accused of incompetence or even favoritism in delivering federal recovery money.

latimes.com - by Joseph Tanfani - March 12, 2014

POMONA, N.J. — His state wrecked and reeling from Superstorm Sandy, Chris Christie made himself the face of New Jersey's comeback effort with a take-charge tour de force that became a cornerstone of an expected run for president.

Country / Region Tags: 
US - NorthEast
General Topic Tags: 
Disaster Response
Economics
Government
Politics
Recovery
Problem, Solution, SitRep, or ?: 
Problem

House Passes U.S. Flood-Insurance Rate Bill Backed by Realtors

Wed, 2014-03-05 23:55 — Kathy Gilbeaux

      

Manuel Sanchez takes in the view of his flooded home and property on September 14, 2013 in La Salle, Colorado. Photographer: Marc Piscotty/Getty Images

businessweek.com- by James Rowley - March 4, 2014

The U.S. House passed legislation trimming premiums for government-sponsored flood insurance

The measure would limit premium increases to 18 percent per policy or 15 percent of an average of premiums in a particular flood zone.

The House bill, H.R. 3370, must be reconciled with legislation passed by the Democratic-controlled Senate that House Republican leaders said would roll back too many of the 2012 law’s changes. The Senate bill is S. 1926.

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Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Problem, Solution, SitRep, or ?: 
Situation Report

Sequence of Assistance - Disaster Human Services Programs

Sat, 2014-03-01 23:14 — Kathy Gilbeaux

      

submitted by Seth Golbey - January 21, 2014
Voluntary Agencies Group Supervisor
FEMA-4085-DR-NY

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Country / Region Tags: 
United States
General Topic Tags: 
Economics
Problem, Solution, SitRep, or ?: 
Situation Report

Key Senate Vote on Flood Insurance Rate Delay Pushed to Next Week

Thu, 2014-01-09 18:00 — Kathy Gilbeaux

insurancejournal.com - by Andrew G. Simpson - January 7, 2014

The U.S. Senate is expected to take a key vote soon on a bill that would delay some of the flood insurance rate hikes triggered by the Biggert-Waters Flood Insurance Reform Act of 2012. . .

. . . The procedural vote on S.1846 was originally planned for Wednesday, but the Senate is still dealing with an extension of federal unemployment benefits, delaying consideration of the flood bill. U.S. Sen. Mary Landrieu (D-La.), a major advocate for the bill, told USA Today that  “next week is more realistic” for any vote on the flood bill.

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Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Problem, Solution, SitRep, or ?: 
Situation Report

The Hard Math of Flood Insurance in a Warming World

Sat, 2013-10-26 23:14 — Kathy Gilbeaux

      

A man walks through flooded streets in Hoboken, New Jersey, after Superstorm Sandy | Emile Wamsteker/Bloomberg via Getty Images

As subsidized rates of federal flood insurance rise, property owners along the coasts get angry. But we need insurance that reflects the risks of a changing planet

time.com - by Bryan Walsh - October 1, 2013

Thousands of homeowners in flood-prone parts of the country are going to be in for a rude awakening.  On Oct. 1, new changes to the National Flood Insurance Program (NFIP), which offers government-subsidized policies for households and businesses threatened by floods, mean that businesses in flood zones and homes that have been severely or repeatedly flooded will start going up 25% a year until rates reach levels that would reflect the actual risk from flooding. (Higher rates for second or vacation homes went into effect at the start of 2013.) That means that property owners in flood-prone areas who might have once been paying around $500 a year—rates that were well below what the market would charge, given the threat from flooding—will go up by thousands of dollars over the next decade.

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Flood
Sea Level
Vulnerability
Problem, Solution, SitRep, or ?: 
Problem
Situation Report

Coastal, Riverbank Homeowners Brace for U.S. Flood Insurance Hike

Mon, 2013-09-30 20:00 — Kathy Gilbeaux

      

A home destroyed during the landfall of Superstorm Sandy is pictured in Mantoloking, New Jersey March 22, 2013.  Credit: REUTERS/Lucas Jackson

reuters.com - by Barbara Liston - September 24, 2013

(Reuters) - More than a million homeowners living in older houses along the coastlines and riverbanks of the United States are being jolted by federal flood insurance rate hikes under a law passed in the wake of devastating storms.

Carol Giovannoni, 51, of St. Pete Beach, a barrier island community off Florida's west coast, is one of the people dreading October 1, when the law takes effect. Giovannoni said the annual flood insurance premium on her standard 1950s concrete-block, ranch-style home on the waterfront will jump from $1,700 to $15,000 over the next few years.

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CLICK HERE - Flood Insurance Reform Act of 2012

Country / Region Tags: 
United States
General Topic Tags: 
Economics
Policy
Problem, Solution, SitRep, or ?: 
Other

Transparency in Supply Chains: A Convergence of Possibilities

Sat, 2013-02-09 16:05 — Kathy Gilbeaux

csi.gsb.stanford.edu - Kriss - February 4, 2013

Where do the products we buy come from and how do we know that their production doesn’t leave a wake of environmental damage or exploited workers? Even brands we think we trust are often linked to suppliers with questionable or downright abusive practices, as exemplified in the November factory fire in Bangladesh, where 112 workers were killed at a factory that supplied Walmart, Sears and even the U.S. Marine Corps, though all claim they had no idea that apparel produced there was destined for their stores.

Global supply chains are complex and opaque, with many layers of suppliers, distant and inconsistent regulatory environments, and intermittent and sometimes unreliable audits and reporting.

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Country / Region Tags: 
Global
United States
General Topic Tags: 
Economics
Policy
Problem, Solution, SitRep, or ?: 
Other

Hurricane Sandy's Economic Damage Could Reach $50 Billion, Eqecat Estimates

Thu, 2012-11-01 19:28 — Maeryn Obley

huffingtonpost.com - November 1st, 2012 - Matthew Craft

Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history, according to the forecasting firm Eqecat. That would rank it right behind Hurricane Katrina.

Eqecat said Thursday that the damage from the storm will likely be far worse than it previously predicted, largely a result of Sandy hitting the most densely populated area in the country.

The firm doubled its previous estimate for the total bill and now says Sandy may have caused between $30 billion and $50 billion in economic losses, including property damage, lost business and extra living expenses.

(VIEW COMPLETE ARTICLE)

Country / Region Tags: 
United States
General Topic Tags: 
Disaster Response
Economics
Problem, Solution, SitRep, or ?: 
Situation Report

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