Roy Wright News

Hurricane-Proof Home Building Available But Pricey, Slow to Be Adopted

In a private waterfront resort on the northern tip of Key Largo, nestled between tropical forest and the Caribbean, Eric Soulavy is marketing luxury for the age of climate change: Coastal homes that are all but hurricane proof. The Florida-based …

Wright Leaving FEMA to Head IBHS, Succeeding Rochman

The Insurance Institute for Business & Home Safety (IBHS) announced that Roy E. Wright has been selected as the next president and chief executive officer of the organization, succeeding Julie Rochman who is retiring after more than 10 years at …

FEMA to Issue First Catastrophe Bond for Flood Insurance Program

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 …

FEMA Expands Flood Reinsurance Program with Private Reinsurers for 2018

The Federal Emergency Management Agency (FEMA) has completed a reinsurance placement with 28 private reinsurers to help the National Flood Insurance Program (NFIP) recover losses it may have to pay in 2018. Expanding on its first private reinsurance placement last …

Hey Congress, Hurricanes and Health Care Have a Lot in Common: Bloomberg View

As Congress continues to struggle with health insurance reform, members should be ruminating on the scenes of “recovery” beaming in from East Texas and Florida, where the majority of households — many now severely damaged or destroyed — had not …

U.S. Flood Insurance Program Expects $11B in Texas Flood Payouts

U.S. officials estimate the FEMA-run National Flood Insurance Program will make $11 billion in payments for flooding in Texas caused by Hurricane Harvey, the program’s administrator Roy Wright said. Additionally, in an attempt to make those payments more quickly, homeowners …

FEMA Vows Changes to Flood Insurance Claims Appeals

After learning some hard lessons from Superstorm Sandy, the Federal Emergency Management Agency says it is reforming the way it handles appeals from disgruntled policyholders in the National Flood Insurance Program. The October 2012 storm, spawned when Sandy merged with …