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8 January 2024Reinsurance

US flood programme NFIP tops up reinsurance above $7bn

The US National Flood Insurance Program (NFIP) took an additional $619.5 million in its 2024 reinsurance coverage, covering portion of NFIP loses above $7 billion for a single qualifying flood event for total premium of $121.1 million, the government's emergency management agency FEMA has said.

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