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Flooding is the most costly type of natural disaster in America, and climate change is accelerating its impact. (Sergey/Adobe Stock) Flooding is the most costly type of natural disaster in America, and climate change is accelerating its impact. (Sergey/Adobe Stock)

On Oct. 1, 2021, the Federal Emergency Management Agency’s new pricing structure for the National Flood Insurance Program (NFIP) officially kicked off.

Known as Risk Rating 2.0, it is advertised as a way to more equitably pay for the billions of dollar in damage racking up because of historical government subsidies and climate change.

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