The Reinsurance Association of America (RAA) has expressed its support for the Federal Emergency Management Agency’s (FEMA) new grant program.
The program aims to provide funding to states, local communities, tribes and territories for affordable, risk-reducing disaster mitigation activities to strengthen the USA’s resilience with the purpose to reduce future disaster cost and losses.
FEMA has posted the funding notice for Building Resilient Infrastructure and Communities (BRIC) grant program, with an application period from 30th September, 2020 up until 29th January, 2021.
The BRIC program will award $500 million in grants.
Frank Nutter, president of the RAA, said: “We applaud FEMA’s new initiative to harden communities vulnerable to natural disasters before they strike.
“This resilience program will save American taxpayer dollars and prevent loss of life.”
For society, more resilient buildings and infrastructure means they won’t be as vulnerable to disaster events and that the economic hit should be more manageable when events do occur.
