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FEMA renews NFIP reinsurance program at $1.32bn for 2019

The U.S. Federal Emergency Management Agency (FEMA) has renewed its traditional flood reinsurance program to cover the National Flood Insurance Program (NFIP) for 2019 at the slightly smaller size of $1.32 billion.FEMA said that its 2019 NFIP flood reinsurance renewal saw 28 private reinsurers participating in the transfer of risk read the full article →

FEMA begins 2019 flood reinsurance program renewal process

The U.S. Federal Emergency Management Agency (FEMA) has begun its procurement process for a 2019 flood reinsurance program renewal for its National Flood Insurance Program (NFIP), with multi-year protection being eyed.FEMA started its reinsurance journey back in 2016, when it tested the market with a small purchase of just $1 read the full article →

FEMA to collect on NFIP reinsurance, expects full $1.024bn

The U.S. Federal Emergency Management Agency (FEMA) has begun the process of collecting on its 2017 reinsurance program, after claims from hurricane Harvey's flooding after surpassing its retention due to the impact of the storm and anticipates recovering the full $1.024 billion from its 25 reinsurers.FEMA placed a January 2017 read the full article →