Reinsurance News
national flood insurance program
NFIP could payout 7-10 billion hurricane Harvey claims: RMS
4th September 2017
The National Flood Insurance Programme (NFIP), the U.S. government programme to provide homeowners with flood insurance, will payout an estimated $7-10 billion in claims from hurricane Harvey and undoubtedly trigger its $1 billion of reinsurance cover, according to RMS. The NFIP, which is set to be reviewed and potentially reformed in ... Read the full article
NFIP receives over 67,000 Harvey claims, puts reinsurance in play
4th September 2017
The National Flood Insurance Program (NFIP) has now received more than 67,000 claims due to hurricane Harvey's flooding in Texas alone, a figure which puts the NFIP's reinsurance clearly in play. The 67,000 claims had been recorded by the end of the 2nd September, having risen from 51,000 on the 31st ... Read the full article
Hurricane Harvey floods could bring NFIP reinsurance into play
29th August 2017
The flooding caused by hurricane Harvey's torrential rainfall continues and is in many cases worsening, with it being termed "catastrophic" and the worst rainstorm in American history. Flood losses to residential homes are of course dealt with by the National Flood Insurance Program (NFIP), where coverage has been purchased and that ... Read the full article
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