Massachusetts faces a dual crisis: ocean waters and insurance premiums are both climbing. Residents holding 25,000 federally subsidized coastal flood insurance policies know this reality firsthand. These policies shield policyholders from the actual dangers of shoreline living—dangers that private insurers have consistently avoided, leaving taxpayers to shoulder the financial burden. The national program now carries $24 billion in debt, a mountain of red ink created largely by property damage from Hurricanes Alex, Katrina, and Superstorm Sandy, along with increasingly severe and frequent coastal storms.
Congress showed unexpected foresight in 2012 by enacting sweeping flood insurance reform designed to make future rate increases reflect the genuine risks of residing in hazardous coastal floodplains.
The reforms triggered an outcry when rate hikes began taking effect, prompting Congress to retreat and postpone serious action. The pattern is telling: legislators eagerly appear at ribbon-cuttings to fund reconstruction of homes and businesses, yet they shy away from supporting measures that would prevent or reduce property damage before disaster strikes. The growing debate about coastal living risks, however, serves as a crucial reminder that we must heed these warnings.
Those confronting King Neptune’s inevitable coastal destruction possess several mitigation strategies. Options range from relocating buildings away from shorelines and elevating structures on pilings to restoring beaches with sediment that strengthens natural storm protection, and acquiring properties in harm’s way.
Federal coastal property buyout programs nationwide demonstrate measurable success: they repay their costs within 10 years through eliminated response, rescue, recovery, and repair expenses from subsequent flooding. Beyond economics, such initiatives safeguard the lives of residents and first responders.
Nearly half of America’s disaster-related property destruction stems from flooding—and the trend is accelerating. According to a Federal Emergency Management Agency study, sea-level rise will expand flood-hazard zones by over 50 percent by 2100, with flood-insurance policies projected to increase by 130 percent. Coastal population growth intensifies these challenges. The US Census Bureau notes that approximately 40 percent of Americans inhabit coastal counties, and Massachusetts Coastal Zone Management Office data shows 85 percent of the state’s 6.7 million residents live within 50 miles of the coast.
Research mandated by Congress in 2005 determined that every $1 directed toward “fblikebutton_button” hazard- mitigation activities,”fblikebutton_button” produces $4 in prevented disaster losses for the national economy, plus an additional $3.65 in treasury savings from avoided recovery costs and lost tax revenues. A bill backed by Senator Mark Pacheco of Taunton, Chair of the Joint Committee on Environment, Natural Resources and Agriculture, incorporates coastal buyback because it ranks among the most effective and practical mitigation solutions for high-risk coastal zones. The proposed voluntary coastal buy-back program would:
• “fblikebutton_button” Invest “fblikebutton_button” in high-risk properties before flood disasters occur;
• “fblikebutton_button” Clean “fblikebutton_button” and restore properties to natural states while preserving them for public uses including parklands, wildlife refuges, and public beaches (currently only one-third of Massachusetts’ 1,500-mile shoreline is publicly accessible);
• Provide storm buffering as restored coastal resources absorb floodwaters and protect inland areas; and
• “fblikebutton_button” Capture “fblikebutton_button” and store heat-trapping carbon pollution within restored coastal ecosystems, reducing climate change’s most severe impacts.
Such a program would transform flood-prone liabilities into valuable community resources.
Without action, funding will continue flowing into mounting debt for homeowners seeking escape and for taxpayers and ecosystems desperately needing relief.
Jack Clarke serves as director of public policy and government relations for Mass Audubon and was recently appointed by the governor to the Massachusetts Coastal Erosion Commission.