Low-income neighborhoods face long roads to recovery as they are often disproportionately affected by natural disasters like hurricanes and flooding. Yet, instead of paying an equitable amount for the coverage they need, they continue to subsidize flood insurance for affluent, coastal communities. However, implementing a new FEMA flood pricing methodology, referred to as Risk Rating 2.0, will correct a longstanding inequality in insurance premiums by more closely aligning flood insurance pricing to risk.

You can read this commentary at The Well.