Bloomberg) – Donald Trump has said he wants to roll back many of Barack Obama's regulations linked to climate change but there may be one exception: a federal disaster proposal aimed at getting states to prepare for the more intense storms forecast to come their way.
The regulation, proposed by the Federal Emergency Management Agency a week before Trump took office, would impose on states a "disaster deductible" — a requirement that they shoulder some of the recovery costs up front, before receiving federal dollars. The deductible would be reduced for states that pass stricter building codes or take other steps to reduce their residents' exposure to disasters.
Keeping costs in check
The federal government has paid out $357 billion in the past decade after disasters such as hurricanes and wildfires, and the risk of bigger storms and greater losses looms. Keeping those costs in check is something the Trump administration may be interested in, as well.
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:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 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.
