Homeowners (and Taxpayers) Face Billions in Losses From Harvey Flooding
View on The New York Times website"The Federal Emergency Management Agency issues maps showing 100-year floodplains, and bases flood insurance rates on those. The maps provide good data on where storm surges may hit, or rivers may overflow their banks, said Carolyn Kousky, director of policy research at the Wharton School’s Risk Management and Decision Processes Center. 'But what they don’t handle well is when a downpour overwhelms a local storm-water drainage system,' she said. That is what is now happening in the Houston area, 'on a scale that’s never been seen before,' she said."
