The Senate yesterday rejected an effort to include windstorm insurance in the federal flood insurance program warning that the addition could overwhelm the program.
There is still some hope for homeowners as there is a further amendment which is unresolved, this calls for a quasi-public catastrophe bond program to be set up to endeavor to help States back up their own catastrophe insurance programs.
More on this story from the Palm Beach Post.
Register today for ILS NYC 2023, our next insurance-linked securities (ILS) market conference. Held in New York City, February 10th, 2023.
Get a ticket soon to ensure you can attend. Secure your place at the event here!
