The long-awaited passing of the National Flood Insurance Programme (NFIP) reform legislation has created new opportunities for increasing demand for reinsurance.
When the "Biggert-Waters Flood Insurance Reform and Modernisation Act of 2012" is signed into law it will grant the NFIP a five-year extension, bringing much needed certainty after a spate of programme lapses in recent years.
But more interesting to the reinsurance sector are provisions in the legislation that will give the NFIP authority to buy reinsurance coverage from...
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