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2017 Hurricane Season (and government shutdown) has insurance industry awaiting NFIP decision on private flood insurance

At a glance:

  • NFIP lapsed over the weekend as a part of the government shutdown, bill was signed to fund the government through February 8th, which includes an extension for the NFIP
  • NFIP signed a new reinsurance deal with private reinsurers
  • Having the right flood data will be the key to successfully insuring flood risk
Flood Insurance NFIP reform

NFIP reform and flood insurance privatization - the latest

At a glance: 

  • NFIP was set to expire December 8, but lawmakers have extended the NFIP (again) until December 22
  • Flood gates likely to open for private insurance carriers
  • Insurers can maximize risk selections by using advanced flood data and analytics to create competitive advantage
Flood Insurance flood data NFIP privatization Flood risk flood risk assessment NFIP reform
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