Your search for “"flood cat bond"”

A number of bills aimed at reforming the U.S. National Flood Insurance Program (NFIP), in order to make it a more sustainable system and to factor in more private market insurance and risk transfer, have been passed by the House Financial Services Committee and will now move onto the full House of Representatives for deliberation.

As the National Flood Insurance Program (NFIP) increasingly looks to risk capital, from traditional reinsurance and in the future capital markets, in order to de-risk itself and better protect the taxpayers who ultimately back it, it’s perhaps more likely we see ILS structures in the form of a sidecar than a flood catastrophe bond, S&P […]

A newly proposed draft piece of legislation which calls for the National Flood Insurance Program (NFIP) to be reauthorised for a 10 year period also clarifies the authority of the administrator FEMA to issue flood catastrophe bonds.

We’ve written a lot about the potential for flood risks to be structured and sold as catastrophe bonds on Artemis. You can read some of our more recent articles on this topic here and here. Still there is no sign in the cat bond pipeline of anyone putting together a flood cat bond but we’re […]

Floods are the most common natural catastrophe worldwide according to a new paper from insurance and financial services group Allianz. During 2010 the International Disaster Database EM-DAT collected data on approximately 400 natural catastrophes with at least 100 people affected or 10 deaths, of these 182 cases were caused by flooding affecting 179m people worldwide.

The U.S. Federal Emergency Management Agency (FEMA) has now successfully priced its latest FloodSmart Re Ltd. (Series 2024-1) catastrophe bond issuance, with the deal set to provide the upsized target of $575 million of flood reinsurance protection for the National Flood Insurance Program (NFIP).

Floodbase, which was formerly known as Cloud to Street, has raised a $12 million Series A funding round, while announcing an evolution in its parametric flood risk transfer technology, to allow parametric flood cover to be added to an existing parametric hurricane product.

The catastrophe bond market index calculated by Swiss Re Capital Markets has recovered a relatively significant chunk of the ground lost after hurricane Ian, at its last calculation on Friday 28th October 2022.

Bid prices have recovered somewhat for a number of catastrophe bond positions that had been deemed particularly exposed to potential losses from hurricane Ian, with a number of the most Florida wind exposed positions appreciating in the last week, as well as the NFIP’s flood cat bonds.

There’s likely to be some uncertainty  in the secondary market pricing of the outstanding FloodSmart Re catastrophe bonds that provide reinsurance from the capital markets to FEMA’s National Flood Insurance Program (NFIP), after the remnants of hurricane Ida flooded north eastern US states, ILS investment manager Plenum has said.