The National Association of Mutual Insurance Companies (NAMIC) has applauded the Biden administration’s announcements that states will receive a record amount of mitigation funding to prepare for natural disasters.
Through the Federal Emergency Management Agency’s Hazard Mitigation Grant Program (HMPG), $3.46 billion will be given to states for mitigation activities. The amount was derived from a percentage of the cost of 59 disaster declarations issued during the COVID-19 pandemic, NAMIC said.
“As disasters continue to devastate communities across the nation – from severe wildfires to wind to flooding events – we have to continue doing all we can to ensure our homes and businesses are protected in the face of extreme climate risk,” said Jimi Grande, NAMIC senior vice president of government affairs and chairman of the BuildStrong Coalition. “And yesterday’s announcement is an important and significant step toward that goal.”
The money will be apportioned based on the amount of aid related to COVID-19 that each state received. The new grant money is separate from the resources being allotted through FEMA’s Building Resilient Infrastructure and Communities (BRIC) Program, which NAMIC played a role in helping to create. The Biden administration also recently announced that this year’s BRIC funding would be doubled to $1 billion.
“For years, we have worked to foster an approach in Washington that ensures communities have the critical resources they need to prepare for devastating catastrophes,” Grande said. “Yesterday’s announcement that a record-breaking amount of mitigation funds will soon be available to communities across America is a sign of how far the nation has come.”
