Disaster declarations occurring at an increasing rate
Federal major disaster declarations provide municipalities access to funds that help homeowners rebuild after a severe catastrophe. A report says 2011 is on pace to be a record year in terms of the number of declarations issued.
The St. Louis Beacon reported there have already been 34 such declarations this year, a pace that could surpass last year's record total of 81. Since 2005, U.S. presidents have issued 330 such decrees, said the report, compared to 267 between 2001 and 2005. Missouri has received a brunt of the notices, reporting 19 declarations since 2006 compared to just five between 2000 and 2005.
Experts say there have simply been a greater number of major natural disasters in recent years, increasing the number of homeowners insurance claims made and forcing state and local governments to quickly drain their recovery resources. As a result, many have to turn to the federal government for aid.
Data from the Federal Emergency Management Association showed areas of the Midwest and South received the highest number of declarations between 2000 and 2010. FEMA Region IV - comprised of Florida, Georgia, Mississippi, Alabama, Tennessee, Kentucky, and the Carolinas - led the way with 111 declarations.
Related Home Insurance Articles:
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- Researchers hope to better understand tornado damage May 22, 2012
- Total costs from Minneapolis tornado reach $80 million May 21, 2012
- Analysis shows more than $2B of insurance claims from Joplin tornado May 18, 2012
- Recovery continues for Michigan tornado victims May 17, 2012
