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IBHS CEO Julie Rochman: FEMA and Disaster Relief
In January, The Federal Emergency Management Agency (FEMA) proposed a plan aiming to incentivize states to protect themselves against natural disasters as a result of climate change. The goal of the plan is to reduce federal spending on disaster assistance by giving states a deductible, or making states responsible for an initial share of the costs once a disaster is declared. States can lower their deductibles by preparing for disasters and implementing certain safety standards, with a particular focus on passing stricter building codes. Julie Rochman, the president and CEO of the Insurance Institute for Business and Home Safety (IBHS) discusses FEMAs proposal and how it could benefit states and local communities in the event of a natural disaster. Watch this interview with Carrier Management's Elizabeth Blosfield.