The Federal Emergency Management Agency (FEMA) has once again procured private sector reinsurance from more than 30 carriers for the National Flood Insurance Program (NFIP) to protect the government program from large losses. Under the 2021 reinsurance program, FEMA transferred …
The Federal Emergency Management Agency (FEMA) FEMA reported its 2020 traditional reinsurance placement for the National Flood Insurance Program (NFIP) in a transaction in which 27 private reinsurers assumed $1.33 billion of NFIP’s financial risk. This annual reinsurance agreement is …
The Federal Emergency Management Agency (FEMA) has again turned to private reinsurance markets to help strengthen the financial framework of the National Flood Insurance Program (NFIP). Last week FEMA entered into a three-year reinsurance agreement, effective April 17, 2019, with …
The Federal Emergency Management Agency (FEMA) has renewed for the third year a reinsurance program that transfers future catastrophic flood insurance losses to the private sector The 2019 traditional reinsurance placement for the National Flood Insurance Program (NFIP) transferred $1.32 …
The Federal Emergency Management Agency (FEMA) has begun the process of renewing its private market reinsurance for the National Flood Insurance Program for 2019, a purchase that could encompass $2 billion of reinsurance. FEMA said it intends to procure reinsurance …
The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for the first time is directly backed by capital markets investors. FEMA has entered into a three-year reinsurance agreement, effective August …
The federal government, seeking to protect itself from the growing cost of natural disasters, is borrowing a technique from the private sector and buying reinsurance. The Federal Emergency Management Agency, which started purchasing reinsurance last year for the National Flood …
In another step shifting risk to private markets, the Federal Emergency Management Agency (FEMA) said it intends to secure additional reinsurance for the National Flood Insurance Program (NFIP) through issuance of a catastrophe bond. FEMA began purchasing private reinsurance in …
The Federal Emergency Management Agency (FEMA) has completed a reinsurance placement with 28 private reinsurers to help the National Flood Insurance Program (NFIP) recover losses it may have to pay in 2018. Expanding on its first private reinsurance placement last …
The Federal Emergency Management Agency (FEMA) is seeking to recover the full $1.042 billion of its reinsurance coverage to help pay the federal flood insurance program’s losses from Hurricane Harvey. Those paid losses exceeded the minimum threshold for the NFIP’s …
