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11 March 2024Alternative Risk Transfer

US flood programme NFIP ups 2024 coverage to $1.9bn with $575m cat bond

US catastrophe management agency FEMA has now transferred $1.92 billion of its flood risk from its flood insurance programme NFIP to the private sector ahead of the 2024 hurricane season, adding $575 million via a fresh tranche of FloodSmart Re cat bonds.

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