Report warns R.I. properties could see insurance premiums spike under updated flood risk

RHODE ISLAND PROPERTIES would see their flood insurance premiums increase 150% if rates were adjusted to reflect the true financial risk of flooding, according to a new report. Pictured is flooding from 2010, events like which are more likely to happen across the state and country due to the impacts of climate change. / PBN FILE PHOTO/BRIAN MCDONALD
PROVIDENCE - More than 5,000 Rhode Island property owners would see flood insurance premiums increase 150% if federal flood programs were updated to reflect the the full costs of structural and financial losses due to flood damage, according to a new report published on Monday. The report, published by the N.Y.-based nonprofit research group First…

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