Use the MSC to find your official flood map, access a range of other flood hazard products, and take advantage of tools for better understanding flood risk. Treasury.įEMA contracted with Guy Carpenter and Company, a subsidiary of Marsh & McLennan Companies, to provide broker services to assist in securing the reinsurance placement. The FEMA Flood Map Service Center (MSC) is the official public source for flood hazard information produced in support of the National Flood Insurance Program (NFIP). If a qualifying catastrophic flood event occurs, reinsurance companies cover a portion of the NFIP’s losses to enhance FEMA’s ability to pay flood insurance claims without borrowing from the U.S. Reinsurance is a financial risk management tool used by private insurance companies and public entities to protect themselves from large financial losses. To ensure that those affected by the PMR have the opportunity to provide input, a PMR has procedures. A PMR is used to change flood risk zones, floodplain and/or floodway delineations, flood elevations, and/or planimetric features. “However, the program will adjust NFIP reinsurance investments whenever necessary to reflect market conditions as we did again this year.” A Physical Map Revision (PMR) is an action whereby one or more map panels are physically revised and republished. Counties shows here are in the various stages of mapping including discovery, engineering analysis, floodplain mapping, preliminary and effective.

“With continued difficult market conditions this year, FEMA remains committed to long-term use of private sector reinsurance,” said David Maurstad, Assistant Administrator for the Federal Insurance Directorate and senior executive of the National Flood Insurance Program. This map shows the current status of all active flood insurance studies throughout the state. If a named storm flood event is large enough to trigger all reinsurance agreements, FEMA will receive qualifying payments. 22.0625% of losses between $9 billion and $11 billionĬombined with the three capital markets reinsurance placements in 2021-23, FEMA has transferred $1.9195 billion of the NFIP’s flood risk to the private sector.8.9125% of losses between $7 billion and $9 billion.FEMA will pay a total premium of $121.1 million for the coverage. The 2024 reinsurance placement covers portions of NFIP losses above $7 billion arising from a single qualifying flood event.

The agency has transferred an additional $619.5 million of the NFIP’s financial risk to the private reinsurance market. This annual reinsurance agreement provides coverage in 2024 through the support of 18 private reinsurance companies. WASHINGTON - FEMA announced its 2024 traditional reinsurance placement for the National Flood Insurance Program (NFIP), continuing its risk management practice against catastrophic flood losses.

Current fema flood zones