Austin Feldbaum joined us for our Community Webinar Series to discuss the impacts of Risk Rating 2.0 on insurance affordability for historically under-resourced communities and how these shifts relate to historical socioeconomic vulnerability in New Orleans.
His presentation was wide-ranging and thought-provoking, calling into question the tight relationship between mitigation resource distribution and insured flood loss. Austin pointed to a potential misalignment in communities like New Orleans, where lower income homeowners that might have high flood risk but no flood insurance coverage can't utilize federal mitigation dollars, which are prioritized based on insurance claims.
“What we’re seeing is that the folks that are most vulnerable, socially and economically, live in the areas with the most exposure to flooding…and have the least access to risk transfer programs like flood insurance.”
The ensuing audience conversation pulled in commentary from communities across the country with similar concerns around affordability and adaptive capacity. One audience member remarked that the presentation demonstrated "fascinating and terrifying research".
You can find the recording of the webinar below, as well as the slide deck here. If you are interested in joining us for our next webinar, you can sign up for our Product Overview & Live Demo on June 30th or subscribe to our monthly newsletter to stay “in the know” about Forerunner’s upcoming events!