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Fathom’s new US flood model features climate & hurricane future scenarios

Research led flood risk model developer Fathom has launched a new U.S. flood model that provides 100% nationwide coverage and incorporates the ability to look at how climate change could impact flooding, as well as how changing hurricane behaviour may affect losses. Fathom's new U.S. flood catastrophe risk model provides all-encompassing read the full article →

Parametric (flood & surge) cat bonds can benefit (mortgage) investors

Investors and funds with exposure to mortgage risks are carrying in some cases significant amounts of flood and storm surge risk exposure that is not covered by insurance and has not been transferred, presenting a potential opportunity for parametric risk transfer structures and perhaps catastrophe bonds or ILS. A landmark catastrophe read the full article →

FEMA secures $1.33bn NFIP flood reinsurance renewal for 2020

The U.S. Federal Emergency Management Agency (FEMA) has now completed its traditional flood reinsurance program renewal, securing $1.33 billion of limit to cover the National Flood Insurance Program (NFIP) for 2020. That's just slightly more than FEMA's 2019 traditional reinsurance program renewal for the NFIP, which was $1.32 billion in size. As read the full article →

FEMA seeks orders & auths for 2020 NFIP flood reinsurance renewal

The U.S. Federal Emergency Management Agency (FEMA) is expecting to secure orders and authorisations for a January 2020 renewal of the National Flood Insurance Program's (NFIP) traditional reinsurance program in the coming days. FEMA was aiming for firm order terms to be in place by the end of last week, while read the full article →

NFIP shift to risk based pricing a boon for private markets (and derisking)?

Yesterday, a big change in the way risk is priced under the U.S. National Flood Insurance Program (NFIP) was announced, with a shift to fully risk based pricing of flood insurance potentially set to be a driver of more flood risk into private reinsurance and risk markets. One piece of the read the full article →

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 →

Bill calls on Congress to mandate NFIP flood reinsurance & cat bonds

The United States Congress will again hear a bill in 2019 that calls on lawmakers to codify a requirement for the Federal Emergency Management Agency (FEMA), as the administrator of the U.S. National Flood Insurance Program (NFIP), to utilise reinsurance and capital market risk transfer solutions. Efforts to enshrine in law 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 →

RMS launches inland flood risk model for the U.S. in high definition

Catastrophe risk modelling specialist RMS has launched a high definition inland flood risk model for the United States, which it hopes will help insurance and reinsurance firms to establish and expand flood risk underwriting businesses. The new RMS U.S. Inland Flood HD Model covers all types of inland flooding events, including read the full article →

Lawmakers want FEMA to buy disaster risk transfer. NFIP reinsurance to expand

The United States Federal Emergency Management Agency (FEMA) could be mandated to purchase much more in the way of risk transfer if a bill that aims to get FEMA buying insurance, reinsurance and capital markets risk transfer tools to provide disaster relief financing comes into law. Currently FEMA buys a reinsurance read the full article →