Call to open US flood insurance gates
(Re)insurance trade bodies have called for a greater private role in the US National Flood Insurance Program (NFIP).
In a recent joint submission to the Federal Emergency Management Agency's public forum, the Reinsurance Association of America's (RAA) president Frank Nutter and his counterpart at the Association of Bermuda Insurers & Reinsurers (ABIR), Brad Kading, said the NFIP should be partially or fully privatised.
Such action would help protect taxpayers, they argued.
"The private reinsurers and capital markets have the capacity...
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