The US Federal Emergency Management Agency (FEMA) has reported that its National Flood Insurance Program (NFIP) has already received more than 25,000 claims from hurricane Ian.CatastropheProperty
FEMA’s NFIP has now begun issuing advance payments to some claimants, in an attempt to get cash into the hands of those impacted by the disaster.
But for us and for those interested in the NFIP reinsurance tower and FloodSmart Re catastrophe bonds, it is the claims count that is most interesting.
FEMA said that as of October 4th, more than 25,000 NFIP claims from hurricane Ian damage have been received.
‘The NFIP is committed to processing claims quickly and fairly,’ said David Maurstad, Deputy Associate Administrator for Resilience and senior executive of the National Flood Insurance Program.