FEMA slashes reinsurance cover for US flood programme NFIP at 1.1
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The US catastrophe response agency FEMA confirmed sale of $275 million in cat bonds in its latest annual move to share risk from the National Flood Insurance Program (NFIP) with capital markets, a notable decline on prior coverage from the group’s Floodsmart Re programme.
Reinsurance, Flood Insurance, ILS, Alternative Risk Transfer, FEMA, NFIP, Cat Bonds, US