The Federal Emergency Management Agency will pay $121.1 million to transfer $619.5 million of flood risk to the private reinsurance market, FEMA said in a statement.
Tag: reinsurance flood
FEMA Sees 36% Decline in Number of Reinsurers for 2023 NFIP Renewal
Data on the National Flood Insurance Program’s (NFIP) traditional reinsurance placement for 2023 reveals a 36% decline in the number of participants in the program when compared with the prior year.
NFIP Sees Reinsurance Partnerships as Mutually Beneficial
The Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) in the United States is eager to continue collaborating with the private sector to help close the country’s flood protection gap, and it has asked its reinsurance partners to encourage clients to investigate flood risk. “We want to continue to work with the private… Continue reading NFIP Sees Reinsurance Partnerships as Mutually Beneficial