Advice to Canadian industry from former U.S. government flood insurance CEO
February 10, 2020 by Greg MeckbachA former head of the United States National Flood Insurance Program has some frank advice for Canadian insurance professionals concerned about the lack of affordable overland flood coverage insurance for high-risk properties. “Look at what they have done south of…
U.S. politicians urged to ‘work quickly’ to ensure NFIP ‘sustainable for the future’
October 3, 2017 by Canadian UnderwriterA coalition of insurers and associations is urging the United States Congress to quickly reform and extend the National Flood Insurance Program, which owes billions to the U.S. government and will expire this year unless a law extending NFIP is…
Capital markets could help transfer U.S. flood risk to private market: Artemis
July 19, 2017 by Canadian UnderwriterThe “glut of reinsurance capital and interest from capital markets” could help the United States government reform its flood insurance subsidy program by making the heavily-indebted National Flood Insurance Program a “much smaller insurer of last-resort,” Artemis.bm suggested Wednesday on…
Reinsurance Association of America calls for increased competition in U.S. flood insurance
June 1, 2017 by Canadian UnderwriterThe Reinsurance Association of America is calling on the U.S. government to encourage private-sector insurers to compete with the National Flood Insurance Program, which is scheduled to expire Sept. 30. NFIP was created in 1968. A property cannot qualify for…
Lloyd’s-written U.S. flood coverage from Marsh unit touted as alternative to NFIP
May 13, 2016 by Canadian UnderwriterTwo weeks after the United States House of Representatives passed legislation proposing to allow private insurers into the flood market, a Marsh subsidiary announced Thursday a U.S. flood insurance product “designed to be a cost-effective alternative” to America’s National Flood…