A federal watchdog has ruled that the Federal Emergency Management Agency (FEMA) broke the law by blocking or delaying aid money that Congress had already approved, including funds for programs that provide shelter and food. The Government Accountability Office (GAO), which oversees federal spending on behalf of Congress, said in a decision released this week […]
FEMA funds blocked illegally, GAO finds Read More »
More than one in four U.S. homes — valued at $12.7 trillion — are exposed to severe or extreme climate risks, according to a report released Tuesday by Realtor.com. The analysis found that threats from flooding, hurricane winds and wildfires are increasingly reshaping housing markets, homeowner costs and insurance availability. “Climate risks are no longer
$12.7 trillion in US homes face severe climate risks Read More »
San Diego-based startup FutureProof is using artificial intelligence (AI) to change the way insurers assess catastrophe risk and set premiums, a shift that could make insurance both more affordable and easier to come by in disaster-prone regions. “FutureProof started with thinking about the build environment and everyone’s homes and businesses,” FutureProof co-founder and co-CEO Alisa
Tech startup offering AI-driven property level risk modeling Read More »
A coalition of 20 state attorneys general have filed a lawsuit against the Federal Emergency Management Agency over its plan to shut down a major disaster mitigation program, arguing the move is illegal and puts communities at risk amid growing climate threats. The suit, filed in the U.S. District Court for Massachusetts, argues that the
20 states sue FEMA over cuts to disaster prevention program Read More »
Xactus on Wednesday announced the completion of its integration with MSP, the loan servicing system operated by Intercontinental Exchange (ICE). The integration enables mortgage servicers to receive automated flood zone determination updates directly into their systems without manual intervention. “This integration is a market-changing development for both Xactus and mortgage servicers who rely on systems
Xactus integrates flood compliance solution with ICE’s mortgage servicing system Read More »
Following the wildfires that devastated the Los Angeles area at the start of the year, a new study has emerged that suggests banks with physical locations are less likely to extend mortgages to impacted residents, while online lenders are continuing to be active. First reported by the The Washington Post, the study — published on
Study suggests banks are avoiding mortgages in California wildfire zones Read More »
Hurricane season is set to commence on June 1, but the Federal Emergency Management Agency (FEMA) — which has been experiencing organizational challenges for the past several weeks — has reportedly rescinded its guiding plan for agency objectives and priorities, according to multiple FEMA employees and a memo obtained by news outlet Wired. On Wednesday,
FEMA rescinds strategic agency plan ahead of hurricane season Read More »
Following a dramatic turn of events at the Federal Emergency Management Agency (FEMA) last week, the newly-installed acting leader acknowledged that the agency does not have a disaster response plan even though hurricane season is jus two weeks away. Former acting FEMA chief Cameron Hamilton initially raised eyebrows when he was chosen to lead the
FEMA isn’t prepared for hurricane season, acting director concedes Read More »