{"id":1004734541,"date":"2024-11-04T05:31:02","date_gmt":"2024-11-04T13:31:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734541"},"modified":"2026-04-16T23:45:10","modified_gmt":"2026-04-17T07:45:10","slug":"sustainability-street-inside-cres-flood-insurance-quandary","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sustainability-street-inside-cres-flood-insurance-quandary\/","title":{"rendered":"Sustainability Street: Inside CRE&#8217;s Flood Insurance Quandary"},"content":{"rendered":"<iframe allow=\"autoplay *; encrypted-media *; fullscreen *; clipboard-write\" frameborder=\"0\" height=\"175\" style=\"width:100%;overflow:hidden;border-radius:10px;\" sandbox=\"allow-forms allow-popups allow-same-origin allow-scripts allow-storage-access-by-user-activation allow-top-navigation-by-user-activation\" src=\"https:\/\/embed.podcasts.apple.com\/ro\/podcast\/sustainability-street-inside-cres-flood-insurance-quandary\/id1552202952?i=1000675616025\" ><\/iframe>\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2ff153bf111&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"675\" data-attachment-id=\"1004735659\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sustainability-street-inside-cres-flood-insurance-quandary\/sustainability-street_burki_mccarthy-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg\" data-orig-size=\"900,675\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Sustainability-Street_Burki_McCarthy\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Podcast art of Sairah Burki and David McCarthy of the Commercial Real Estate Finance Council&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg?w=900\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg\" alt=\"Podcast art of Sairah Burki and David McCarthy of the Commercial Real Estate Finance Council.\" class=\"wp-image-1004735659\" style=\"width:401px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Sustainability-Street_Burki_McCarthy_9edff6.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure><\/div>\n\n\n<p>Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in.<\/p>\n\n\n\n<p>For this episode, my guests\u2014Sairah Burki, managing director &amp; head of regulatory affairs &amp; sustainability at the Commercial Real Estate Finance Council, and David McCarthy, CREFC managing director &amp; head of legislative affairs\u2014delve into the legislative logjam around the National Flood Insurance Program, which, though basically insolvent, is the only flood insurance alternative for many.<\/p>\n\n\n\n<p>\u201cThe policymakers have to decide who is going to pay for this,\u201d McCarthy said. &#8220;Is it going to be the Federal government? People who are not as exposed to floods as people who are? Are they going to pick up the tab for this in their tax bills? Or is the insurance program itself going to be re-balanced to be more market based, which means higher costs?&#8221;<\/p>\n\n\n\n<p>Here are some highlights from our conversation:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A worsening problem (1:30)<\/li>\n\n\n\n<li>The rising cost of coverage (7:17)<\/li>\n\n\n\n<li>What it means for owners and lenders (8:37)<\/li>\n\n\n\n<li>A bi-partisan concern (12:58)<\/li>\n\n\n\n<li>The industry lobbies for clarity and resilience (15:22)<\/li>\n\n\n\n<li>What a new administration means for sustainability (23:27)<\/li>\n<\/ul>\n\n\n\n<p><em>Follow, rate and review CPE\u2019s podcasts on\u00a0<a href=\"https:\/\/open.spotify.com\/show\/192KwbDpOsZbF3dBXfaDkS\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Spotify<\/a>\u00a0and\u00a0<a href=\"https:\/\/podcasts.apple.com\/ro\/podcast\/commercial-property-executive\/id1552202952\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Apple Podcasts<\/a>,<\/em>\u00a0<em>and don\u2019t forget to subscribe to CPE\u2019s recently relaunched\u00a0<a href=\"https:\/\/www.youtube.com\/@CommercialPropertyExecutive\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">YouTube<\/a>\u00a0channel!<\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owners are under-insured, and FEMA\u2019s program is set to expire\u2014again! CREFC&#8217;s Sairah Burki and David McCarthy discuss the legislative logjam and the need for reform.<\/p>\n","protected":false},"author":756,"featured_media":1004735659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21795,21786],"tags":[33985,52571],"class_list":["post-1004734541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-podcasts","category-sustainability","tag-commercial-real-estate-finance-council","tag-sustainability-street"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inside CRE&#039;s Flood Insurance Quandary - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Owners are under-insured, and FEMA\u2019s program is set to expire\u2014again! 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