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FEMA explains structure of $1.153bn 2021 flood reinsurance renewal

The U.S. Federal Emergency Management Agency (FEMA) has explained the structure of its $1.153 billion National Flood Insurance Program’s (NFIP) traditional reinsurance renewal for 2021. As we were first to report yesterday, FEMA renewed the NFIP's traditional reinsurance program at the January 2021 renewals, opting for a downsized $1.153 billion of read the full article →

FEMA renews $1.153bn of traditional NFIP flood reinsurance for 2021

The U.S. Federal Emergency Management Agency (FEMA) has renewed the National Flood Insurance Program’s (NFIP) traditional reinsurance program at the January renewals, opting for a downsized $1.153 billion of coverage, but from an expanded panel of reinsurers. As we revealed back in September, FEMA was back in the reinsurance market and read the full article →

FEMA begins 2021 flood reinsurance renewal process, may upsize program

The U.S. Federal Emergency Management Agency (FEMA) is back in the reinsurance market and seeking expressions of interest to participate in a January 2021 renewal of the National Flood Insurance Program’s (NFIP) traditional reinsurance program. Our sources suggest that for 2021 FEMA may look to increase the size of the traditional read the full article →

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 →

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 →