The U.S. National Oceanic and Atmospheric Administration (NOAA) has launched a new Hazard Mitigation Value online reporting service.
The purpose is to show how hazard mitigation—the effort to reduce loss of life and property by lessening the impact of disasters—has numerous benefits.
Some of the proven economic advantages include:
- Collectively, mitigation programs, such as those encouraging more stringent building codes, save the American public about $3.4 billion every year;
- Communities that participate in the National Flood Insurance Program can save up to 45 percent on insurance premiums under the Community Rating System, which scores based on preparedness; and
- Property owners in moderate- to high-risk flood zones can lower insurance premiums by about $1,000 per year by raising their house three feet above the expected flood rise.
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