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E&E News by POLITICO
One of the nation's largest real estate groups is joining the federal government's disaster agency in urging Congress to address climate change by helping people buy flood insurance.
The National Association of Realtors® and the Federal Emergency Management Agency on Tuesday publicly called on Congress to approve a long-sought overhaul to FEMA's ailing flood insurance program.
The National Flood Insurance Program, or NFIP, sells most of the nation's flood policies, yet only about 4 percent of U.S. properties have coverage.
"NFIP is critical to the U.S. real estate market," said Nate Johnson, the Realtors® association's vice president of advocacy, at a news briefing. "More than 15 million properties have a high risk of flooding."