State announces funding to face mounting storm damage - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Advertise
    • Contact
    • Editorial Staff
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
April 27, 2018 Newswires
Share
Share
Tweet
Email

State announces funding to face mounting storm damage

Cape Cod Times (Hyannis, MA)

April 27--BARNSTABLE -- Hammered by three March nor'easters, it was easy for many on the Cape to forget the punishing flooding that occurred in a January nor'easter that left much of Provincetown's downtown under 2 or more feet of water and caused damaging flooding of neighborhoods and roads from Provincetown to Sandwich. The March 1-3 nor'easter alone resulted in 225,000 insurance claims in the Northeast and over $2 billion in economic losses, according to reinsurance broker Aon Benfield's Global Catastrophe Recap for March 2018.

Following those storms, Gov. Charlie Baker's office decided to increase funding for planning and projects to improve coastal resiliency for the state's municipalities, said Kathleen Theoharides, the assistant secretary of climate change in the state Executive Office of Energy and Environmental Affairs.

Theoharides spoke to the Barnstable County Coastal Resources Committee -- which includes municipal representatives along with environmentalists -- Thursday introducing two grants from the state's Municipal Vulnerability Preparedness program.

As the Cape found out this past winter, the intensity and frequency of big storms is occurring as the Northwest Atlantic warms faster than almost any other ocean. But impacts are also being felt on land to cold-weather crops like cranberries and maple syrup, to people who suffer from more days with extreme heat and from tick-borne illnesses ,and plant and tree pests that are spreading north as the region warms.

"This is a problem that spans sectors and borders," Theoharides said.

In March, Gov. Baker unveiled a $1.4 billion environmental bond bill that included $300 million to bankroll climate change adaptation projects. Already funded is the $5 million for the two municipal vulnerability grant programs, a tenfold increase over last year's allotment, Theoharides said.

Deadlines for this year's grant programs are approaching fast and applications for planning grants are due May 11. These grants of between $10,000 and $75,000 are used to help towns engage their community to identify strengths and vulnerabilities related to climate change, create a prioritized list of actions they want to tackle with the goal of receiving a Municipal Vulnerability Preparedness designation from the state. That designation qualifies them for the Action Grants of between $10,000 and $400,000 to help them implement their wish list by assessing risk, updating bylaws and plans, redesigning and retrofitting existing protections, and using nature-based solutions for heat, storm, health and other climate impacts. Those grant applications are due by May 18. All funding for projects has to be used by June 30, 2019.

Five million dollars may not seem like a lot of grant money when split among 350 or so towns, but Robert Duncanson, Chatham's director of natural resources, said any amount of monetary assistance from the state was welcome.

"A lot of projects don't tend to be hugely expensive," he said. Rebuilding a dune, or replacing a small culvert with a larger one, often don't require large amounts of cash. Duncanson could see money from the grant program helping them to do better big-picture planning for the future to educate private landowners on what they can do to combat climate change impacts and coordinate their responses with town efforts.

Provincetown completed its Hazard Mitigation Plan required by the Federal Emergency Management Agency in 2016, said environmental planner Tim Famulare. He said his town has been working on coastal resiliency planning for years, but the extent of the flooding this year surprised many.

"It does seem the state is putting its money where its mouth is," Famulare said of the grant program. Duncanson said the real test will be whether there will be grant money to help them pay for the climate change resiliency projects they envisioned in the planning phase.

Theoharides said $2 million has been allocated to staff to support towns and there was another $5 million in the state's capital plan for next year to fund another round of grants.

"We are looking to make this a continuing priority," she said.

-- Follow Doug Fraser on Twitter:@dougfrasercct.

___

(c)2018 Cape Cod Times, Hyannis, Mass.

Visit Cape Cod Times, Hyannis, Mass. at www.capecodtimes.com

Distributed by Tribune Content Agency, LLC.

Older

Winchester Road transformation: Oily garage becomes modern, open, office space.

Newer

In Illinois’ Ongoing Budget Crisis, She’s the Woman Deciding Who Gets Paid

Advisor News

  • US economy to ride tax cut tailwind but faces risks
  • Investor use of online brokerage accounts, new investment techniques rises
  • How 831(b) plans can protect your practice from unexpected, uninsured costs
  • Does a $1M make you rich? Many millionaires today don’t think so
  • Implications of in-service rollovers on in-plan income adoption
More Advisor News

Annuity News

  • Great-West Life & Annuity Insurance Company Trademark Application for “EMPOWER BENEFIT CONSULTING SERVICES” Filed: Great-West Life & Annuity Insurance Company
  • 2025 Top 5 Annuity Stories: Lawsuits, layoffs and Brighthouse sale rumors
  • An Application for the Trademark “DYNAMIC RETIREMENT MANAGER” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
  • Product understanding will drive the future of insurance
  • Prudential launches FlexGuard 2.0 RILA
More Annuity News

Health/Employee Benefits News

  • From mental health coverage to bison protection: New Colorado laws that take effect Jan. 1
  • Findings from Oregon Health & Science University (OHSU) Broaden Understanding of Coronavirus [Children’s Enrollment in Children’s Health Insurance Program (CHIP) Coverage During the Medicaid Unwinding]: RNA Viruses – Coronavirus
  • Studies from Johns Hopkins University Have Provided New Data on Academic Medicine (The Access Partnership: Expanding Outpatient Health Care Access for Uninsured Patients At One Academic Medical Center): Health and Medicine – Academic Medicine
  • How 831(b) plans can protect your practice from unexpected, uninsured costs
  • Savvy Senior: How to appeal a Medicare coverage denial
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • Baby On Board
  • 2025 Top 5 Life Insurance Stories: IUL takes center stage as lawsuits pile up
  • Private placement securities continue to be attractive to insurers
  • Inszone Insurance Services Expands Benefits Department in Michigan with Acquisition of Voyage Benefits, LLC
  • Affordability pressures are reshaping pricing, products and strategy for 2026
More Life Insurance News

- Presented By -

Top Read Stories

  • How the life insurance industry can reach the social media generations
More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Slow Me the Money
Slow down RMDs … and RMD taxes … with a QLAC. Click to learn how.

ICMG 2026: 3 Days to Transform Your Business
Speed Networking, deal-making, and insights that spark real growth — all in Miami.

Your trusted annuity partner.
Knighthead Life provides dependable annuities that help your clients retire with confidence.

Press Releases

  • Two industry finance experts join National Life Group amid accelerated growth
  • National Life Group Announces Leadership Transition at Equity Services, Inc.
  • SandStone Insurance Partners Welcomes Industry Veteran, Rhonda Waskie, as Senior Account Executive
  • Springline Advisory Announces Partnership With Software And Consulting Firm Actuarial Resources Corporation
  • Insuraviews Closes New Funding Round Led by Idea Fund to Scale Market Intelligence Platform
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Advertise
  • Contact
  • Editorial Staff
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2025 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet