Insurers can leverage the forward-looking power of catastrophe modeling to not only accurately price flood risk, but also design incentives to strengthen the flood resilience of homes and businesses. Tropical Storm Florence dealt a crushing blow to Vass, where many residents were still recovering from the destruction caused by Hurricane Matthew in 2016. And in 2015, state regulators removed a requirement that storm shutters subject to high winds be permanently anchored.Ĭatastrophe models, such as the AIR Inland Flood Model for the United States, allow users to identify key risks and evaluate the efficacy of different flood risk mitigation strategies. Hurricane Florence’s potentially devastating winds are generating enormous waves as high as 83 feet high as it continues to make its wave toward the U.S. In 2014, North Carolina eliminated the requirement for new construction in the flood zone to rise 1 foot or more above the FEMA base flood elevation. The region also has a long history of flooding due to the combined impact of atmospheric conditions and lack of proper maintenance of flood control and drainage systems. A total of 52 landfalls have occurred in North Carolina and 32 in South Carolina since 1851, making them the fourth and fifth most hurricane-prone states, respectively, after Florida, Texas, and Louisiana.
The Carolinas are no stranger to hurricane landfalls. Carolina students who are experiencing financial hardship due to Hurricane Florence and wish to take advantage of the new fund should contact the Student.
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