National Flood Insurance Program is privately reinsuring and will continue that trend

Flood Insurance Extension - Flooding

The flooding program under FEMA is working to transfer a huge amount of its risk to the private sector. The Federal Emergency Management Agency has now purchased reinsurance from private companies for its National Flood Insurance Program. The agreements officially became effective on September 19, 2016 and will continue coverage through March 19, 2017. That said, they have indicated intentions to purchase more coverage next year. The coverage has been purchased through Swiss Re America Corp., Transatlantic Reinsurance Co., and Munich Reinsurance America Inc. To reinsure the National Flood Insurance…

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U.S. RE Analytics releases new tool to help insurers manage their risk exposure

Insurance technology with new risk managment tool for industry use U.S. RE Analytics, a consulting firm that provides services to the insurance and reinsurance industries, has developed a new tool that could help some insurance companies manage the cost of reinsurance more efficiently. The tool, called U.S. RE Risk Optimizer, is designed specifically to assist companies that are exposed to catastrophic natural disasters. These disasters have proven to be a serious financial risk over the past two years. Two consecutive years of severe natural catastrophes have caused the price of…

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