As the climate crisis worsens, more Americans will be forced from their homes. Many won’t be able to afford it, and the U.S. isn’t prepared for a massive, government-subsidized migration away from flood-prone areas, according to the first comprehensive analysis …
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) through issuance of a catastrophe bond. FEMA began purchasing private reinsurance in …
Insurance Commissioner Jim Donelon says the Federal Emergency Management Agency (FEMA) has granted an additional 90-day extension of an important deadline for National Flood Insurance Program (NFIP) policyholders affected by the August flood. The program normally requires policyholders to file …
