flood cat bond

One of the bills calling for the use of catastrophe bonds, collateralized reinsurance and other private market risk transfer tools to lower the risk held by the U.S. National Flood Insurance Program (NFIP) will now be heard before a Senate committee.

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 bipartisan draft proposing a raft of changes and amendments to legislation surrounding the National Flood Insurance Program (NFIP) calls on House members to enable the flood insurance pool to cede more of its risk to the capital markets, using a full-range of reinsurance risk transfer tools.

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.

A Senate committee has been urged to consider legislation that would allow the National Flood Insurance Program (NFIP) to cede more risk to private reinsurance markets and to allow it “explicit access” to more “securities vehicles”, which could help the flood catastrophe bond cause.

The Federal Emergency Management Agency (FEMA) will seek to build on its “cornerstone” flood reinsurance placement in order to better protect the National Flood Insurance Program (NFIP), while shifting more of its risk to the private sector.

The U.S. Federal Emergency Management Agency (FEMA) has expanded on its test 2016 reinsurance arrangement, transferring $1.042 billion of risk from the National Flood Insurance Program (NFIP), to 25 reinsurance carriers for a 2017 reinsurance program.

The U.S. Federal Emergency Management Agency (FEMA) has begun its procurement process for a 2017 flood reinsurance program for its National Flood Insurance Program, as it seeks to push more of the risk into private risk transfer markets.

A proposal for principles on which the U.S. National Flood Insurance Program (NFIP) should be reauthorised and reformed calls for the use of both traditional and capital market alternatives forms of risk transfer and reinsurance to support de-risking the government backed flood insurance facility.