Author Topic: Flood risk at your home? Public-accessible database coming in 2020  (Read 708 times)

Offline Mr. Bill

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Reuters, 1/14/20: U.S. flood risk model to be publicly available in boon for homebuyers

...First Street Foundation on Tuesday launched Flood Lab, a research partnership which provides eight universities with its model that maps previous instances of flooding as well as future risks. ...

The data will be made available to the public in the first half of 2020 in an online database searchable by home address. ...

Major risk modeling firms like Risk Management Solutions, CoreLogic, AIR Worldwide and KatRisk are currently the sole purveyors of that information, which they sell to big insurers, mortgage lenders and investment firms. But the cost, which can run into seven figures a year, is prohibitive for universities, smaller financial firms and homeowners. ...

First Street says its model rivals those at big private firms. While there have long been researchers modeling flood risk, the timeframe and geographic scope have been limited as the manpower and cost have been too great for any one university. First Street currently has around 70 researchers working on its model, more than some of the proprietary firms. ...