Florida sues First Street over flood-risk ratings

Florida Attorney General James Uthmeier has sued First Street Technology, alleging its property-level climate-risk scores exaggerate flood danger, mislead consumers and may hurt home values or contribute to higher insurance costs. The complaint says the scores sometimes diverge sharply from FEMA flood maps; it cites research reporting roughly 55% overall agreement and only 23% to 24% agreement in more urbanized areas, as well as a complaint about neighboring homes receiving sharply different scores. First Street says its models draw on scientific research and are intended to help buyers understand risks from hazards including flooding, wildfire, extreme heat and wind; the company’s ratings have appeared on major real-estate platforms. The allegations have not been proven in court, and the dispute highlights competing concerns about the accuracy and potential effects of climate-risk disclosures amid rising insurance costs and housing-affordability pressures. Nebraska took similar action in August, while the broader debate includes whether buyers should have access to property-level environmental risk information.