(Bloomberg) – Federal programs to protect Americans against extreme weather and other natural disasters save even more money than previously thought, according to a report funded by the same agencies that have proposed cutting many of those programs.
The report, released Thursday by the National Institute of Building Sciences, found that every $1 the federal government spends on so-called mitigation projects, such as elevating homes at risk of flooding, improving stormwater management systems or strengthening buildings against earthquakes, reduces future costs by an average of $6.
|Growing effects of climate change?
That's higher than the 4-to-1 savings the institute last estimated in 2005; the increase reflects the growing effects of climate change as well as better data and measurement, according to the group.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
