The NFIP has once again moved a large portion of its financial risk to the private reinsurance market. To the tune of $1.06 billion to be exact.
“FEMA remains committed to reinsurance as a risk transfer measure to ensure the NFIP has the capacity to pay claims, especially now with the growing intensity and frequency of weather patterns brought on by climate change,” said David Maurstad, FEMA’s senior executive of the National Flood Insurance Program. “Our No. 1 job is to provide policyholders peace of mind in knowing that the NFIP will be there when they need it most.”
Peace of mind is also top of mind to the private flood market. As a provider of private flood coverage, we believe it's important for insureds to consider the options available outside of the NFIP.
We offer coverage in all X, AE, or VE flood zones. Our coverage mirrors the NFIP, plus offers extended and additional coverages. Email submissions@neee.com to request a quote, or learn more at https://neee.com/flood