Critical Insight
Innovative Partnership Helps Plymouth Adapt to Risk
Plymouth has partnered with InnSure, a Boston-based nonprofit insurance innovation hub, on a pilot project to develop risk simulation software meant to support the Town’s economic development and coastal resilience planning. The pilot focuses on 500 residential and commercial properties from Boundary Lane to the mouth of Eel River, an area chosen for both its density of development and its risks from sea level rise, storm surges, extreme precipitation, and stormwater and riverine flooding.
The risk simulation software will produce a “Total Cost of Risk” metric, which the Town aims to leverage in its planning and decision-making. It also plans to use the data to enable homes and businesses to receive “resilience audits” so they can better understand flood risks and potential solutions for enhancing physical and financial resilience.
Currently, 1,561 buildings in Plymouth, or 9% of the total, are vulnerable to a 100-year flooding event. Moreover, 81% of Plymouth’s municipally owned critical facilities are located within a flood zone, while data indicates a 24% increase in heavy rainfall events and 2.4 inches of sea level rise for Plymouth by 2050. If left unaddressed, these hazards are likely to cause failure of infrastructure, negative impacts to utilities and ratepayers, and substantial disruptions to our critical emergency services and economic activity.
In 2024, the U.S. experienced 27 climate-related disasters that caused at least $1 billion in damage and cost $183 billion overall. Since 1980, the U.S. has experienced more than 400 climate-related disasters at a total cost of nearly $3 trillion. Climate change therefore poses one of the greatest economic risks facing the U.S.
The insurance industry has largely struggled to adapt – and so have consumers. As climate-related risks have increased, insurance premiums have skyrocketed and policies have not been renewed. In 2023, Massachusetts ranked fourth among U.S. states for insurance non-renewals, while Plymouth County ranked 87th among all U.S. counties. A catastrophic storm event could therefore trigger cascading economy-wide financial effects for Plymouth’s local and regional economy.
The Town secured a two-year award of roughly $295,000 from the Coastal Resilience Grant Program of the Massachusetts Office of Coastal Zone Management (CZM) to support this project, with the remaining matching funds (10% of project costs) allocated from the Environmental Affairs Revolving Fund at Fall Town Meeting 2025.