flood insurance reform News
U.S. Flood Insurance Reform Remains Unfinished, a Year After Massive Hurricane Damage
U.S. taxpayers who spent billions of dollars after a trifecta of hurricanes last year are poised to do so again after a fix to the nation's troubled flood insurance program remains stalled in ...
FEMA Shifts More Risk to Private Markets With First NFIP Catastrophe Bond
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) ...
Federal Flood Insurance Program Renewed Through July 31; Permanent Fix Still Lacking
Advocates who have been pushing for renewal of the U.S. federal flood insurance programs in the wake of last year's devastating hurricanes and floods praised Congress for extending the program ...
NAMIC CEO Chamness Sounds Off on Flood Insurance and Disaster Relief Reform
Reform of the National Flood Insurance Program remains an unresolved issue. Congress must reauthorize the debt-ridden Federal Emergency Management Agency-managed program by March 23. It already has ...
Congress Skeptical About Trump’s $12B Plan to Reduce Future Flood Damage
The Trump administration's proposed $12 billion initiative to reduce future flood damage met with skepticism in Congress, as lawmakers warned against diverting emergency funding away from hurricane ...
Senate Bill Would Extend Flood Insurance Program for a Decade, With Changes
U.S. Senators Bill Cassidy (R-La.) and Kristen Gillibrand (D-N.Y.) have released draft legislation to reauthorize the National Flood Insurance Program (NFIP) for 10 years. The NFIP is currently set ...
U.S. Flood Insurance Reform Will Spur Trickle of New Players: S&P
Opening U.S. flood insurance to private insurers won't lead to a surge of new market entrants, Standard & Poor's asserts in a new report. Even if Congress passes legislation to make the change as ...
A.M. Best: ‘Benefits to Be Gained’ From Flood Insurance Market Expansion
The U.S. Senate is gearing up to consider a bill that would revamp and expand the U.S. flood insurance market, and its passage appears likely. A.M. Best said this will be a very good development for ...