Daily Caller: Goodbye Tropical Storm Colin, Hello CBO Study

Tropical Storm Colin left the southeastern states and headed toward the North Atlantic leaving up to 10 inches of rain, some wind damage and minor flooding. An estimate of damage to structures has yet to be completed, but compared with storms in recent years coastal residents have avoided hurricane-force devastation. Not so lucky are the residents exposed to the recent, but unrelated, storms in Texas. The impact of these storms highlight the ongoing risks facing many communities across the U.S.

For those along the coast, the beginning of June is early in the year for a third tropical storm. The early arrival suggests this may be a busier year than usual for rough weather along the coast. No doubt insurers and the Federal Flood Insurance Fund (NFIP) are reassessing how much more in damage payouts they might face, if the current pace of coastal storms continues.

The Congressional Budget Office (CBO) has just released a forecast of the potential storm costs in a study…

To continue reading, visit the Daily Caller.

FacebooktwitterredditlinkedinFacebooktwitterredditlinkedin