Calculating the Real Cost of Wind and Flood Risk in Louisiana
April 29, 2024
Securing Louisiana Homes and Homeowners
Through a growing partnership with the Governor鈥檚 Office of Homeland Security and Emergency Preparedness, or GOHSEP, and the University of New Orleans, research developed by 海角社区 AgCenter鈥檚 LaHouse Research and Education Center has provided Louisiana with a realistic annual cost of natural hazards in the state鈥�$5 billion by 2050. For the first time, the total price tag includes the biggest risk, flooding, at $3.6 billion.
鈥淭his is a big deal, because now we know the number we need to be making progress toward reducing,鈥� said Carol Friedland, director of LaHouse, which works with builders, residents and decision-makers across Louisiana to secure homes, increase the use of resilient construction methods and protect homeowners in the ongoing home insurance crisis. 鈥淣ow we can start making comprehensive strategies to reduce the risk, which is the only thing that will make insurance companies return to Louisiana and start writing affordable policies again.鈥�
For over a decade, Friedland has been leading the risk assessment research for Louisiana鈥檚 State Hazard Mitigation Plan. Just approved by FEMA, the new plan gives Louisiana access to federal aid and grants through 2029. It is also used as a baseline for the state鈥檚 64 parishes to write their own preparedness plans.
鈥淯sing new research techniques developed at LaHouse and 海角社区, the state has a more complete understanding of where risks are highest,鈥� stated GOHSEP in their recent announcement of the approved plan.
鈥淥ur research progress allows all the hazards to now be ranked, prioritized and tracked,鈥� Friedland said. 鈥淎s we do projects, we鈥檒l be able to see how taking action brings our risk and that $5 billion number down.鈥�
More than half of Louisiana is considered a flood hazard area. Research by 海角社区 AgCenter鈥檚 LaHouse estimates the total annual cost of wind-related losses to $1.2 billion, flood-related losses to $3.6 billion.
鈥� Adobe Stock
鈥淥ur partnership is unique, because I鈥檝e talked to other states about what we鈥檙e doing and how we use 海角社区鈥檚 risk assessment research to create our State Hazard Mitigation Plan. Working with 海角社区 also allows us to do education and outreach. The 海角社区 AgCenter has offices and extension agents everywhere, so it鈥檚 easy to reach out. 鈥楬ey, we need to have a meeting in Jonesboro.鈥� 鈥極kay, let鈥檚 go.鈥欌��
Jeffrey Giering, Louisiana State Hazard Mitigation Officer