In a testimony delivered to the United States House of Representatives, NAMIC suggested that the U.S. National Flood Insurance Program would benefit from transferring risk to the private sector through reinsurance and catastrophe bonds.
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Frank Nutter, President of the Reinsurance Association of America, has published an opinion piece on the Washington focused website theHill.com. In it he calls again for the National Flood Insurance Program to be reformed and allow the private sector to become the reinsurer and ultimate backstop for the program leaving the taxpayers unburdened.
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FEMA disclosed the participants in its 2025 traditional reinsurance program for the National Flood Insurance Program (NFIP) this week and it shows that alternative investment manager Quantedge Capital participated on a fronted basis, which appears to be the first year an investor has taken a line on the program in this way.
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According to an analysis from reinsurer Swiss Re, a repeat of 2005’s hurricane Katrina hitting in an identical manner using today’s exposure values and protective measures, could drive an insured loss close to $100 billion.
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Descartes Underwriting, the parametric risk transfer specialist, has announced the launch of a new fully customisable Flood-at-Location parametric flood insurance product for U.S. commercial customers.
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Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused company, has announced the appointment of John Kulik as Senior Reinsurance Actuary on its Broker Team.
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According to Former Florida Senator Jeff Brandes, the implementation of a quota share model could effectively phase out Florida’s Citizens Property Insurance Corporation as an insurer, and transform the firm into a manager and distributor of risk, achieving the goal of “Citizen Zero.”
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Having increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, we’re told that FEMA has gone ahead with the partial repayment of principal and also extended the maturity dates for two of its FloodSmart Re catastrophe bond tranches.
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According to sources, the U.S. Federal Emergency Management Agency (FEMA) has halted preparatory work for a planned FloodSmart Re Ltd. Series 2025-1 catastrophe bond issuance, which we’re told is as a consequence of the oversight and focus on government agencies instigated by the new U.S. Administration.
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Here are the ten most popular news articles, week ending February 16th 2025, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.
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