A Bloomberg article looks beyond rising insurance premiums for coastal communities.  Some rating agencies are beginning to incorporate severe and unpredictable weather brought on by climate change into the risk to bond investors.   While the article focuses on the Northeast United States, we know that Florida, with the most coast of any other state, must be thinking about these issues as well. In addition to developing disaster response plans, we have to be pro-active with our mitigation efforts as well.

“Climate change introduces a new risk, especially for coastal cities, as storms and floods increase in frequency and intensity, threatening to destroy property and push out residents. That, in turn, can reduce economic activity and tax revenue. Rising seas exacerbate those threats and pose new ones, as expensive property along the water becomes more costly to protect — and, in some cases, may get swallowed up by the ocean and disappear from the property-tax rolls entirely. ”

Read the full article:  Rising seas may wipe out Jersey towns (002)

 

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