Flooding, including the devastation caused recently by Hurricane Helene, is responsible for $5 billion in annual damages in the U.S. That’s more than any other type of weather-related extreme event.To address the problem, the federal government instituted a program in 1990 that helps reduce flood insurance costs in communities enacting measures to better handle flooding. If, say, a town preserves open space as a buffer against coastal flooding, or develops better stormwater management, area policy owners get discounts on their premiums. Studies show the program works well: It has reduced…
